What the Federal Budget means for our economy
I am sharing with you an insight into what the Federal Budget means for our economy.
The key points:
- The budget this year is expected to return to a surplus of $4bn thanks to a continuing revenue windfall.
- Key measures include cost-of-living support, more spending on aged care and a move to slow NDIS growth.
- Implications for inflation and hence the RBA are minimal.
- Despite savings measures structural budget deficits remain in the medium term as the revenue windfall fades.