A budget more for individuals than for business
A centrepiece of last night’s budget is individual tax relief of some $21.7 billion over four years. In addition the superannuation surcharge has finally gone. This will have exceeded most people’s expectations at such an early stage of the electoral cycle.
The Government has attempted to address supply-side issues, particularly relating to the labour market, through programs to increase workforce participation and address skills shortages. Some may think the budget could have been bolder in respect of key areas such as infrastructure investment and industry policy.
Attachments
Australia: Budget Alert, 11 May 2005 (74 KB)
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Page Last Updated: May 11, 2005
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Source: Deloitte Touche Tohmatsu (English)
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