Budget 2017 spend follows strengthening economy

Deloitte Australia offers its analysis on the federal government's Budget 2017, looking over an improving economy and greater spending on infrastructure.

Image: GotCredit/flickr

Leading global analyst firm Deloitte has delivered its own feedback on the Annual Budget 2017-18 handed down by Treasurer Scott Morrison on 9th May, 2017.

According to Deloitte, the theme of this new Budget is to ‘bury the ghosts of Budgets past’ – an appropriate assessment of this new spending spree, as it’s been playfully dubbed in the media and social networks as a ‘Labor Budget’ delivered by a Coalition government.

The Coalition’s mounting reputation since its election in 2013 is that it’s been too much of a penny-pincher, resulting in the controversial freeze on indexation of Financial Assistance Grants (FAGs), welfare cuts, #robodebt and the recent decision by the Fair Work Commission to cut weekend penalty rates in retail and hospitality.

Now in what looks like a significantly more generous Budget than before from the Coalition government, Prime Minister Malcolm Turnbull appears to be trying to reverse that negative reputation and make a comeback from tepid polling and a near miss at the 2016 election which severely weakened his government.

In Deloitte’s economic overview, it says Mr Turnbull is looking to “add some substance to his cities agenda through substantial investments in transport and other infrastructure projects” announced in this Budget.

“These big ticket items include funding for the second Sydney airport, money to build a new inland rail line between Brisbane and Melbourne and additional funds for a range of other urban rail projects across Australia,” the Deloitte report said.

“Some of them have the added political advantage of tipping money into the regions, and thereby addressing the electoral challenge from a resurgent One Nation.”

Regarding debts and deficits, Deloitte says the government still expects this Budget balance to “head back to greener pastures”.

According to Deloitte, the Budget balance is expected to gradually improve on the deficit of $40 billion in 2015-16, easing slightly to $38 billion in 2016-17, $29 billion in 2017-18, $21 billion in 2018-19, $2.5 billion in 2019-20 and a projected return to a small surplus of $7 billion in 2020-21.

“Over the four years to 2019-20, this is an overall improvement in the figuring from MYEFO of $4.0 billion – all of which comes in 2019-20,” the report said.

For more from Deloitte on the Budget 2017-18, visit its dedicated page.

The New South Wales government has called for corporate tenders for the operation of the Inner West bus services in Sydney.

Sydney Inner West bus services go to tender

| Fleet, State, Transport | No Comments

Companies wanted to operate transport services.

Internet access will become a nice freebie across the entire Adelaide Metro network as public Wi-Fi will be rolled out after an EOI.

Free public Wi-Fi to be extended across Adelaide Metro

| ICT, Infrastructure, State, Transport | No Comments

Internet to be accessible on all modes of public transport.

Stone & Chalk's expert in residence Paul Shetler chats to GovNews about the state of the public sector and what needs to be improved.

5 Minutes With… Paul Shetler, Expert in Residence at Stone & Chalk

| 5 Minutes With... | No Comments

What needs to be improved internally in the public sector? The former head of the Digital Transformation Office has the answers.

A new street light benchmarking tool will be released which will help buyers and vendors with standards and specifications of lighting systems.

Solving the maze of LED street light specifications

| Infrastructure, Local, Sustainability | No Comments

Benchmarking tool created to make procurement of lighting systems easier.

GovNews Newsletter

Stay informed with GovNews...

Gain valuable insights into the latest news, 5 Minutes With, up-coming events and government concepts and initiatives exclusive to eNews.

Only use your corporate email address to sign up. Personal emails (e.g. gmail, yahoo, hotmail, live etc…) will be removed.

You will need to confirm your subscription. Check your junk folder if you have not received a confirmation.