This will be the first budget for Australia’s new Government, delivered against the backdrop of an economy growing slightly below trend and a Commission of Audit that’s examining ways to trim government spending to a more sustainable level. Deloitte is forecasting a ‘no surprises’ Budget from a tax perspective – with little significant change.
We also don’t see dramatic changes to spending in this year’s Budget. The real story is more likely to be incremental change, coupled with some more insight into the Government’s priorities for how to reduce regulation to stimulate competitiveness and economic growth, while reducing the deficit.
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