{"id":145922,"date":"2019-04-03T06:20:35","date_gmt":"2019-04-02T19:20:35","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/auarticles\/federal-budget-back-in-the-black\/"},"modified":"2023-05-15T13:28:03","modified_gmt":"2023-05-15T03:28:03","slug":"federal-budget-back-in-the-black","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/federal-budget-back-in-the-black\/","title":{"rendered":"Federal Budget – “Back in the Black”"},"content":{"rendered":"

Federal Budget – “Back in the Black”<\/h4>\n

“Returning the budget to surplus, delivering more jobs, providing lower taxes, guaranteeing essential services.”<\/em><\/p>\n

\"Australian<\/p>\n

We are in the election year, and the government needed a budget that will please voters. Treasurer Josh Frydenberg delivered his first federal budget and conveyed his plans for a stronger economy. The two dominant headlines surrounding the budget are:<\/p>\n

\u201cBudget in Black, Australia back on track\u201d<\/strong><\/p>\n

&<\/strong><\/p>\n

\u00a0\u201cA Tax System that rewards effort and underpins a strong economy\u201d<\/strong><\/p>\n

Returning the Budget to Surplus<\/h4>\n

Despite downgrades to domestic economic forecasts and heightened global growth concerns, the Treasurer announced the first budget surplus of $7.1 billion in 2019-20 in over a decade. However, the budget surplus does not come without a catch. It is conditional upon the Coalition winning the election.<\/p>\n

The Budget Surplus is also based on optimistic economic forecasts, and if the rosy predictions are softer than expected, the actual revenue flows will be undermined and the surplus will not materialise.<\/p>\n

It should be highlighted that the outcome of the 2019-2020 budget will not be known until September 2020, and Australia is facing a softening economy which can make \u201cBudget in Black, Australia back on track\u201d<\/strong> challenging to achieve:<\/p>\n