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Oliver's Insights - The 2019-20 Australian Budget – the long-awaited surplus and the promise of more tax cuts ahead of the election
Shane Oliver, Head of Investment Strategy and Chief Economist.

 

The attached note takes a look at the 2019-20 Australian Budget. The key points are as follows:

 

  • The 2019-20 Budget "delivers" the long-awaited surplus and increased fiscal stimulus mainly via tax cuts/offsets.
  • The main risk is that the revenue boost is not sustained & the budget continues to have relatively optimistic assumptions regarding wages growth.
  • The impact on the RBA and shares is likely minimal as the fiscal stimulus in the Budget is modest.



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