Key points
> The Government expects the Federal budget deficit to peak at $161bn this financial year (down from $214 billion in October’s Budget) and fall to $107bn in 2021-22.
> The windfall to the budget from stronger growth is being spent on extra stimulus. Return to budget surplus looks more than a decade away.
> Key measures include more spending on aged care, childcare, infrastructure, investment tax breaks and more help for home buyers.
> Avoiding fiscal austerity and focussing on growing the economy is the right thing to do at present.
Download the full paper here
