2015 Budget question (1 Viewer)

[Jamesn97]

What are some announcements in the 2015 budget that would fit under one of these economic issues
- economic growth
- unemployment
- Inflation
- External stability
- Distribution of Income and wealth
- Environmental sustainability

 

[Raymondo]

It's all available on the 2015 Budget Website.

To give you some direction, in regards to economic growth & unemployment the spending on SME's would boost Aggregate Demand, hence a reduction in cyclical unemployment. Removal of tax paid for assets <$20,000 as well as 1.5% tax cuts for incorporated companies and 5% tax cuts for unincorporated companies stimulates growth in the economy. Additionally the government has been encouraging the creation of businesses through accessibility of information, etc.

Youth Unemployment has also been quite a big target in the Budget, with new Work Experience programs causing a boost to the productivity of youth whilst also providing social welfare for them.