2021/22 Australian Budget – Fiscal policy supports strong recovery

In our special Budget 2021/22 edition of the podcast Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist dissect the numbers, key policies and economic forecasts. The Australian economy is now growing strongly and the Budget position improved in 2020/21. However the deficit for 2021/22 was larger than expected at $A106.6bn, which was little changed from the MYEFO estimate of $A108.5bn. Effectively the government has embarked on a number of significant spending initiatives as well as receiving lower revenue due to policy changes. The government is taking on a more active role in demand management in an attempt to lower the unemployment rate below 5%. Listen to the podcast for what it means for Australia’s debt position, the economic outlook and the Reserve Bank of Australia.

 

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