An Election Budget – the Australian Federal Government Budget 2021
Federal Treasurer Josh Frydenberg handed down the 2021 Budget in what can best be described as a pre-election budget for the ages.
Absent the surprise tax cuts, and with the Reserve Bank of Australia locking in near 0% interest rates for at least the next few years, Frydenberg and the Coalition were able to deliver a huge and very much big spending Labour-like budget which will very much frustrate the opposition leading into what could be a surprise early election year.
The deficit for 2020-21 at $161 billion is almost $53 billion better than forecast in last year’s delayed 6th October Budget. Key areas of focus were tax cuts, Covid-19 measures, job creation, aged care, mental health, childcare, national disability insurance scheme, and infrastructure.