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Federal Budget Australia 2017
10/05/2017

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The 2017-18 Australian Budget – pragmatism and fairness rule 

AMP Capital article by Shane Oliver

The 2017-18 Budget has much to make it popular. In fact, the goodies make it almost feel like a pre-election rather than a post-election budget. The transformation from the austerity to end “the age of entitlement” of the 2014 budget to the “fairness, security and opportunity” of this Budget has been profound.

Key points:

  • The 2017-18 Budget has a welcome focus on housing affordability and infrastructure;
  • Subdued wages growth is keeping revenue collection down contributing to a slight deterioration in near term deficit projections (a deficit of $29.4bn for 2017-18) but a return to surplus is still projected for 2020-21;
  • This year’s Budget should be positive for confidence;
  • The impact on the RBA and the shares is likely to be minimal.
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