Treasury 2022/23 budget deficit forecasts

FEDERAL BUDGET FORECASTS The federal government’s budget black hole will persist for the foreseeable future, but there will be notable improvements from the new financial year. By the end of 2025/26 the budget will be $103.6 billion better off, compared to the...[Read More]

Fuel excise halved to ease bowser pain

RELIEF AT THE BOWSER The fuel excise will be slashed by 50 per cent for six months to ease cost of living pressures for motorists. From Wednesday, the 44.2 cents per litre fuel tax will drop to 22.1 cents, with the savings expected to flow to bowsers in the next two...[Read More]

Federal budget 2022/23 at a glance

THE FEDERAL BUDGET AT A GLANCE KEY FORECASTS * Budget deficit of $78 billion in 2022/23 * Commonwealth net debt to rise to $714.9 billion (31.1 per cent of GDP) in 2022/23 * Economic growth to rise by 3.5 per cent in 2022/23 * Unemployment rate of 3.75 per cent in...[Read More]

Federal budget 2021/22 at a glance

Paul Osborne (Australian Associated Press)   THE FEDERAL BUDGET AT A GLANCE KEY FORECASTS Budget deficit of $106.6 billion for 2021/22 (5 per cent of GDP) Economic growth to rise by 4.25 per cent in 2021/22 Unemployment to average 5 per cent Inflation to average...[Read More]

Who are the budget winners and losers?

Paul Osborne (Australian Associated Press)   WINNERS AND LOSERS IN THE 2021/22 BUDGET WINNERS Small Business – Incentives to innovate and grow Taxpayers – Extended relief for low and middle income earners Elderly – More home care packages and a...[Read More]

A summary of the 2021/22 federal budget

Paul Osborne (Australian Associated Press)   A SUMMARY OF THE 2021 FEDERAL BUDGET ECONOMY * Budget deficit of $106.6 billion in 2021/22 * Deficit narrows to $99.3 billion in 2022/23, $79.5 billion in 2023/24 and $57 billion in 2024/25 * Commonwealth net debt to...[Read More]