The jewel in the Government’s crown is the $7.1bn budget surplus in 2019-20.
Australia has seen its fair share of catastrophic disasters this year. In response, the Government has announced the creation of a $3.9bn Emergency Response Fund. The Fund will provide $150m per annum from 2019-20 to 202-24 following a significant and catastrophic natural disaster. This funding is applied where the disaster requires funding beyond relief measures already in place.
The Government has been busy securing international tax and trade agreements. We note these as Australia’s role in the region, security, and export markets rely on these agreements.