30 Mar The 2022-23 Australian Budget
Key Points:
- A budget windfall has allowed both more spending and lower budget deficits, with the 2022-23 budget deficit expected to be $80bn (down from $99bn in December).
- Key measures include “cost of living” payments, a temporary cut to fuel excise, more spending on infrastructure & defence & more help for home buyers.
- Relying mainly on nominal economic growth to reduce the deficit & debt runs the risk that it could take a very long time to get debt back down to a reasonable level.