Subscribe

Budget2017: carrots, sticks and steel

The 2017-18 Australian Commonwealth budget maintained the Government's projected return to surplus in 2020-21. However, the revenue growth underpinning it is dependent on a relatively positive economic story playing out. 

Click image to zoom Tap image to zoom

" Slightly higher deficits together with 'off-budget' spending will boost debt, which is not without cost."
David Plank, Head of Australian Economics at ANZ

Moreover, slightly higher deficits together with 'off-budget' capital spending will boost Government debt, which is not without cost.

The Government found money for infrastructure, removed $13 billion in 'zombie' policy measures and tinkered with housing affordability. 

This has been partially funded by a $6.3 billion 'major-bank levy' and a $8.2 billion lift in the Medicare levy (of an extra 0.5 percentage points from July 2019).

Check out the infographic below to learn more.

Click image to zoom Tap image to zoom

David Plank is Head of Australian Economics at ANZ

You can read BlueNotes’ FULL COVERAGE of #Budget2017 HERE

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

editor's picks

02 May 2017

Aus budget 2017: what to expect

Cherelle Murphy | Senior Economist, ANZ

May’s Australian federal budget is being cast as one which will boost infrastructure spending and address ‘fairness’ including through housing affordability and university fee arrangements.

10 May 2017

Budget2017: growth ambition

Richard Yetsenga | ANZ chief economist

The federal budget tries to balance spending with a creative search for revenue.

10 May 2017

Australian Commonwealth Budget 2017-18

bluenotes contributors |

Australia's Commonwealth Budget has been unveiled, with a focus on security, fairness and opportunity.