Renew & Restore
The Government has been clear that this Budget’s main focus was to cautiously mitigate the risks of a possible recession and ease impacts of inflation. Real budget repair and expenditure will be a focus for future budgets, along with reducing the ballooning national debt.
What does this mean for your business? How do the key spending highlights address current and future economic issues while helping businesses maintain profitability?
To find out more about how the Government’s key spending and tax measures will affect your business, access our insights.
Labor has handed down its second Budget since being in power, amidst global economic uncertainty, a slowing economy with growth expected to wane to 1.5 per cent in 2024 and rising costs for individuals and businesses alike. The Federal Government this year had three priorities – cost-of-living relief, growing the economy, and ensuring Australia’s stability against international economic instability.