Budget 2020-21: What’s in it for businesses?
By Ellie Dudley · 6 October 2020 · Australian Budget 2020
By Ellie Dudley · 6 October 2020 · Australian Budget 2020
Australia's economic response to the pandemic has come at a significant cost, but what does this mean for businesses? Find out what's in store for the country's finances in the latest budget update.
This year, Australia will see a $213.7 billion deficit. “Our economic response has come at a significant cost,” said Treasurer Frydenberg in his address on Tuesday evening. The deficit is expected to fall to $66.9 billion by 2023-24. Net debt will increase to $703 billion (36 per cent of GDP this year) and peak at $966 billion (44 […]