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VIDEO: The key to the Australian Commonwealth Budget in just 120 seconds

The 2016-17 Australian Commonwealth Budget helps address some of Australia’s structural challenges, ANZ Chief Economist Richard Yetsenga says, including the taxation of superannuation and the global services trade.

Speaking to BlueNotes on video, Yetsenga said the budget delivers a modest amount of economic stimulus but also some very modest revenue measures.

"[The budget treads] a pretty fine line between economic pressures, pressures on Australia’s credit rating… and what is likely to be an election called relatively soon."
Richard Yetsenga, Chief Economist, ANZ

"It does all of these things while trying to tread a pretty fine line between these economic pressures, pressures on Australia’s credit rating… and what is likely to be an election called relatively soon,” he said.

VIDEO: The Australian Commonwealth Budget in 120 seconds

“It attempts to deliver some reform, primarily aimed at taxation of superannuation and also what's likely to be a pretty long-lived process to start a more efficient taxation of cross-border trade in services.”

He speaks further on the super changes and the long-lived nature of some of the budget-night policy announcements. Watch the video above to find out more.

Jo Masters is a Senior Economist at ANZ

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

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