Australia: Financial prudence is the theme for the 2019 Federal Budget - Westpac

According to Christopher Niesche, analyst at Westpac, suggests that for the Australian economy, financial prudence may have been the theme of the 2019 Federal Budget, but Treasurer Josh Frydenberg’s pre-election announcement promised big boosts to some sectors.

Key Quotes

“Income tax cuts, a major increase in infrastructure spending and a projected return to surplus are the headline-grabbing changes in the 2019-20 Federal Budget. However, the Budget also makes policy and spending changes that will affect a range of industry sectors, from health to agriculture and IT.”

“Importantly, with the Budget coming so close to an election, many of the measures won’t be passed by Parliament before Australia goes to the polls. Which of the Budget measures will ultimately become legislated will depend on the outcome of the election.”