How much bang will the economy get for its budget dollar?

last week, taxes paid by households in the past year have increased by around 8 per cent, around double the 3.5 per cent increase in household income growth.

CBA's Michael Blythe said one option would be bringing forward the second phase of tax cuts announced last year, although that would tend to favour higher income earners. Westpac says this represents around 0.8 per cent of households' annual income or 1 per cent of consumer spending — that's assuming recent trends hold and with any boost to household income half is saved and half is spent."Firstly, it is highly unlikely that the Government would budget for a $10.5 billion 'handout'. That is likely to be viewed as a lopsided approach.

That is generally because they are leakier than a rusty tin shed. This one hasn't leaked, so there is the possibility of some genuine surprises, but even then markets are focused on things way beyond Canberra's orbit. Still there are plenty of worries — economic data here and overseas is leaning increasingly to weak, rather than strong.RBA on hold

Historical government debt and deficit...

Stephen_Letts RBAInfo JoshFrydenberg michellegrattan billshortenmp Let's see how company tax revenue grows vs income tax. The problem started with the oil price shock in 2008 which was like a heart attack with permanent damage to the economy

What a crock of rubbish. Love how it gets spun depending on which party is in ‘power’. So transparent in its propaganda lol. Debt has reached 500 billion under this govt. ffs. Families are really struggling under power prices et al and no wage growth. Babbling bullshit aispol

The budget is in a state of disrepair. Irresponsible government has spent more than it has earned. The cheque book may be balanced but debt has risen exponentially with no end of borrowing in sight. This government has not performed its fiduciary responsibilities to the nation.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why we have a booming budget and a sluggish economyThe impending federal budget will be an election document bloated by the proceeds of mining revenues — but that sudden influx of cash sits strangely at odds with a general sense of funk over the direction of our economy. Boom in propaganda, more like it. Debt is still spiralling. timwilsonmp and trevorevansbne thoughts? I find your scaretactics regarding frankingcredits to be reminiscent of spreading rumours on the playground; where leaders would be communicating with the public re: the end of resources booms and the future of australia. auspol Basically mining profit goes overseas, or to investors here (the people Labor want to attack if they get in). The workers are here (and to be clear, your analysis is wrong, most plant is STILL operated by an operator), the support contractors and infrastructure are here.
Source: abcnews - 🏆 5. / 83 Read more »

Cyclone Veronica's potential billion-dollar blowAnalyst warns Cyclone Veronica's pummelling might hit the Australian economy with iron ore exports temporarily stopped from the world's largest bulk export port. You now love mining because of the money hypocrits But what is all that water worth?
Source: abcnews - 🏆 5. / 83 Read more »

Woman ditches family in economy for first class seatsA luxury travel blogger admits she leaves her kids in economy while she flies first class to long-haul destinations like the Caribbean — and she never feels guilty about it. High maintenance! Get rid of her 🤘 What a fucking worthless selfish cunt of a thing
Source: newscomauHQ - 🏆 9. / 77 Read more »

Sharing economy booms as Australians yearn for extra cashA recent survey estimates one in five Australian adults are turning to the sharing economy for additional income.
Source: smh - 🏆 6. / 80 Read more »