In a policy turnaround on research and development, the government scrapped a plan from last year to save $1.8 billion in research and development tax concessions and will instead offer $2 billion in fresh incentives.
While the deficit is forecast to shrink to $112 billion next year, the Commonwealth will remain in deficit until beyond 2031. Finance Minister Mathias Cormann said the government had "no alternative" but to unleash mammoth spending to prevent younger Australians facing years of economic pain.Senator Cormann argued the policies were temporary and avoided long-term pressure on the budget, with payments falling back to only 1.7 per cent growth in real terms from 2021.The outlook is founded on economic growth of 4.
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JoshFrydenberg 🙄 and nothing on that list for renewables lowcarboneconomy ClimateAction to address the biggest long term threat for Australia and humanity from climatechange
JoshFrydenberg The Age blocks my comment on Facbook $1 trillion in debt. Hmm Anthony Albanese: This Government wants to blame the debt on coronavirus WB: Not me Albo, remember Labors 2013 $667 billion projected...
JoshFrydenberg Why aren’t Religious organisations Taxed ?
JoshFrydenberg More to the point: where is the money coming from?
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Source: theage - 🏆 8. / 77 Read more »
Josh Frydenberg banks on jobs, business stimulusTreasurer JoshFrydenberg warned of a 'monumental' task to recover from the coronavirus crisis, as he revealed a spend federalbudgeta revenue shock that will take gross debt to $1.1 trillion within four years. | Chief political correspondent CroweDM... JoshFrydenberg CroweDM With the LMITO extended for a year in the lead up to an early election those taxpayers earning between $45-90k should be made aware as of July ‘21 they will be paying $1080 additional in tax per year. JoshFrydenberg CroweDM Frydenberg delivers an underwhelming budget after years of mismanagement The Federal Government proves how incompetent they are MorrisonRecession JoshFrydenberg CroweDM What a milksop of a treasurer. About as convincing as Scunto is compassionate = nil.
Source: theage - 🏆 8. / 77 Read more »