The latest Federal Budget has a simple aim – to get the economy back on its feet. And at the heart of the strategy is job creation. The aim is simple but achieving the goal will be much more difficult. And that is largely because there are host of factors outside our control.

This is the biggest ever budget deficit in dollar terms. It is the biggest budget deficit as a proportion of GDP in 75 years since 1945. And the budget is unashamedly a stimulatory budget. But there is no alternative as Australia is in its deepest recession since at least World War II if not The Great Depression.

Federal Budget Snapshot

View the full screen by clicking on the image above.

Federal Budget: 2020/2021

The latest Federal Budget has a simple aim – to get the economy back on its feet. And at the heart of the strategy is job creation. The aim is simple but achieving the goal will be much more difficult. And that is largely because there are host of factors outside our control.

This is the biggest ever budget deficit in dollar terms. It is the biggest budget deficit as a proportion of GDP in 75 years since 1945. And the budget is unashamedly a stimulatory budget. But there is no alternative as Australia is in its deepest recession since at least World War II if not The Great Depression.

Start trading today with Australia's leading online broker

Join now >

Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non-guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 ("the Bank") and both entities are incorporated in Australia with limited liability.
This information is directed and available to and for the benefit of Australian residents only and is not a recommendation or forecast.

This information has been prepared without taking account of the objectives, needs, financial and taxation situation of any particular individual. For this reason, any individual should, before acting on the information on this site, consider the appropriateness of the information, having regards to their own objectives, needs, financial and taxation situation, and, if necessary, seek appropriate independent financial, foreign exchange and taxation advice. CommSec, and its related bodies corporate, do not accept any liability for any loss or damage arising out of the use of all or any part of this information. We believe that this information is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. 

 

Disclaimer

This site is directed and available to and for the benefit of Australian residents only. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability.

By clicking on the "Download the CommSec App" buttons above, you will be directed to itunes.apple.com or play.google.com. These sites are not affiliated with CommSec and may offer a different Privacy Policy and level of security.

Top