Federal Budget Announcement 2015-16
The 2015-16 Federal Budget was announced last night and has (as expected) had significant attention in this morning’s media.
AMP have released various budget summaries including a comprehensive customer briefing document, an Oliver’s Insights, and a Video summary of the announcement. We have included a link to each below, however the key points are as follows:
- The 2015-16 Budget has seen a shift in focus from budget repair towards supporting growth and fairness.
- Thanks to another blow to revenue the budget deficit for 2015-16 is now projected to be $35bn (compared to just $17bn in last year’s budget); return to budget balance or surplus has been pushed out a year to 2019-20.
- New spending, eg on child care and a small business tax cut, has been more than offset by various savings.
- This year’s Budget should be far more positive for confidence than last year’s, but a return to surplus is looking more distant.
- The impact on the share market is likely to be minimal.
To view the full customer briefing, please CLICK HERE or on the image below:
Please CLICK HERE to view Oliver’s Insight Summary
Please click on the image below to view video:
If you have any questions regarding the information in this update, please don’t hesitate to contact us on 1300 982 499.