The budget is set to be delivered just weeks out from the federal election.
An election is looming & the polls are not looking good for the government - but what will be in Tuesday's federal budget? Federal Finance Minister Simon Birmingham said the government is “doubling down” on young people in the workplace with $365M being confirmed for this.
This budget is set to be focused on apprenticeships and training.
We can also expect one-time cash splashes, childcare subsidies and much more.
Here is what else can be expected in the upcoming budget:
Taxpayers, including pensioners, will receive one-off cash bonuses from $200 to $400 due to the rising costs of living.
$60 million to help bring back international tourism, including campaigns
$10 billion for a submarine base in QLD or NSW, along with $4.3B for a dry dock in WA
$50 million in support for Ukraine, along with the $70 million already promised
Key projects ahead of the federal election include a $500M dam in Queensland, $678M for Outback Way and $2.26 billion for a north-south motorway in SA. It is also expected that the unemployment rate will drop to 3.75% later in the year - that’s down from 4% earlier this year.
This federal budget can be determined as the most important, as an election is near and the Coalition “barely keeping their head above water.”
Marginal seats will receive more promises as the government looks to win voters in those seats.
But, if the government doesn’t spend enough, they run the risk of losing voters in key seats, and if they spend too much, inflation rates could rise. The Federal Budget will be handed down on Tuesday night at 7:30pm AEDT - we'll have LIVE COVERAGE on our YouTube Channel.
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