Victorian Chamber Overview of the 2019-20 Federal Budget and Budget Reply
Federal Treasurer Josh Frydenberg’s first Budget was delivered on 2 April 2019.
The Victorian Chamber of Commerce and Industry welcomed several key initiatives, including returning the Budget to surplus in 2019-20, its inclusion of tax relief for small and medium-sized businesses, the $525 million funding boost to skills and training and its $6.2 billion investment in Victorian infrastructure.
The Budget will help Victorian businesses get workers with the skills they need, reinvest in capital and expand internationally.
While the national economic outlook has moderated, economic growth is expected to remain stable with growth supported by household consumption, business investment, public final demand and exports.
However, risks to the economy remain around global economic conditions, a deeper than expected correction in the domestic housing market and further drought and flood events.
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