25 Oct The October 2022-23 Australian Budget
Key Points:
- Yet another revenue windfall and the offsetting of new spending with savings has resulted in sharply lower budget deficits this year and next, with the deficit this year expected to be $36.9bn (down from $78bn in March).
- This avoids adding to inflation and pressure on the RBA.
- Key measures include more on childcare, health, the aged, housing and the NDIS.
- Budget deficit projections are now worse beyond 2024-25 and will need to be addressed in next May’s budget.
