There are plenty of winners and few direct losers in a budget that lays the groundwork for the next election - still more likely to be next year than this.
Looking graphically at actual and forecast GDP makes it clear why some speak of a ‘V-shaped recovery’. But even the fairly bullish assumptions reveal a recovery where the V isn’t really sharp enough.
The government will aim at driving unemployment below pre-pandemic levels and avoid any sharp pivot towards “austerity” in its May 11 budget, Treasurer Josh Frydenberg will say on Thursday.
Newspoll showed most people approved of the Coalition’s budget, with 42% saying it would be good for the economy and 49% saying Labor wouldn’t have delivered a better alternative.
In Opposition leader Anthony Albanese’s budget reply, he spoke of a $20 billion plan to modernise Australia’s electricity grid, and an extra $6.2 billion over four years for affordable childcare.
Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne