Bill Evans, analyst at Westpac, points out that in Australia, the Federal Treasurer will deliver the 2019 Budget on Tuesday April 2, which is being brought forward from May 14.
Key Quotes
“We anticipate that all of the upside surprise to the Budget will be returned to the people – in the form of lower taxes and higher spending. This is a budget that will ‘give back to the people’.”
“Key points on the budget: a return to an underlying cash surplus in 2019/20, to the tune of $4bn, for the first time since 2007/08; and net debt as a share of the economy peaked in 2017/18, at 18.5% of GDP.”
“The budget profile in MYEFO and expected to be confirmed in the Budget, is: -$5.2bn in 2018/19; +$4.1bn in 2019/20; widening to +$19bn in 2021/22.”
“On spending flexibility, recall that MYEFO factored in ‘decisions taken but not yet announced’ to the tune of $2.5bn for 2019/20, $3.8bn in 2020/21 and $3.0bn in $2021/22.”
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