Australian Federal Budget 2020-21

Treasurer Josh Frydenberg handed down Australia’s federal budget on Tuesday 6 October, detailing steps to boost an economy reeling from the impact of the COVID-19 pandemic.

IN BRIEF

  • The budget provides a long, debt-ridden road to recovery as the government announces spending measures to keep people employed and businesses functioning
  • The government forecasts a record $213.7 billion deficit and predicts net debt to peak at $966 billion (44% of GDP) by June 2024
  • Unemployment is expected to peak at 8% in December 2020, keeping the government focused on creating jobs. It expects unemployment to fall to 6.5% by June 2022

For more details visit CA ANZ site.

20_21 Federal Budget

Summarised copy can be provided upon requests.