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Single parents who want to buy a home, school leavers and retirees who want to boost their superannuation accounts are set to be big winners from this year s federal Budget.
Treasurer Josh Frydenberg will deliver his second Budget speech in seven months at 7.30pm on Tuesday as he aims to rebuild an economy that was sent into recession by the coronavirus lockdowns.
Mr Frydenberg is already planning more big spending next financial year, with Deloitte predicting a Budget deficit of $87 billion, a figure well below this year s estimated $167 billion shortfall. We won t be undertaking any sharp pivots towards austerity. We want more people in jobs and in better paying jobs. This is what our fiscal strategy is designed to achieve, he said.
On Tuesday at 7.30pm Josh Frydenberg will hand down the federal budget
His focus is on supporting the economy to recover from Covid-19 pandemic
Treasurer also set to announce axing of threshold for employers to pay super
Means workers do not need to earn $450 a month before employers contribute
Worker on $400 a month is $450 better off within a year of change being made
The focus on women comes after a difficult three months in which the Morrison government was rocked by allegations of sexual assault and the poor treatment of women in the federal Parliament.
Women s services are tipped to be a winner in the federal budget with $354 million packages being spread across the issues of cervical and breast cancer, endometriosis and reproductive health. Among the funding announced by federal health minister Greg Hunt and MP Dr Katie Allen on Sunday was a $100 million investment in improving cervical and breast cancer screening programs. Shadow Minister for Education and Shadow Minister for Women, Tanya Plibersek. Picture: NCA NewsWire / James Gourley There will also be a $96 million injection for new tests under the Medicare Benefits Scheme (MBS) for pre-implantation genetic testing of embryos for specific genetic or chromosomal abnormalities prior to pregnancy.