Federal budget: Joe Hildebrand explains Treasurer Josh Frydenberg’s 2020 Budget speech
Josh Frydenberg’s 2020 budget speech was a perfectly polite affair on the surface, and some subtle shade in-between. Joe Hildebrand breaks down what the Treasurer was really telling Aussies.
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THE DISCLAIMER
In 2020, Australians have been tested like never before. Flood, drought, fires, and a global pandemic.
So many Australians, through no fault of their own, are doing it tough.
This deficit is not our fault.
Through no fault of their own, millions of small and medium sized businesses have faced lockdowns and restrictions that have severely impacted their ability to trade.
Again, this is nobody’s fault, except possibly Dan Andrews’.
THE BUSHFIRES
Our local heroes, the healthcare workers on the frontline, just as our volunteer firefighters did over summer, are showing us the way. In fact, one firefighter told us exactly where to go.
Further investments to strengthen our resilience to natural disasters will be announced in our response to the Royal Commission into National Natural Disaster Arrangements.
This Budget is focused on the disaster we handled well, not the disaster we f**ked up.
THE POLITICS
Our plan is guided by our values. And also Labor’s values, so why bother voting for them?
In this Budget, there is record funding for hospitals, schools, child care, aged care and disability services.
See above!
INTERNATIONAL RELATIONS
Australia’s economy contracted by 7 per cent in the June quarter. By comparison, there were falls of around 12 per cent in New Zealand.
Yeah, that’s right. Take that you Jacinda-loving lockdown loonies.
COMMONWEALTH-STATE RELATIONS
Funding for these shovel ready projects will be provided on a use it or lose it basis. If a state drags its feet, another state will get the money.
This is mostly just to piss off Dan Andrews.
MORE FEDERAL BUDGET NEWS:
How Australia will climb out of record $1 trillion debt pile
How first home buyers can snap up their dream property faster
Big change to paid parental leave as childcare centres raise fees
Super changes to stop Aussies being gouged by fees
Winners and losers: Did you come out in front?
Pensioners to pocket extra $500 tax-free payments
PERSONAL TAX CUTS
More than 11 million taxpayers will get a tax cut backdated to 1 July this year.
Backdating stuff means you get a chunk of money all at once so you feel like it’s a bonus and go out and spend it.
Australians will have more of their own money to spend on what matters to them, generating billions of dollars of economic activity and creating 50,000 new jobs.
NB: the word “spend”.
DID SOMEONE SAY SPEND?
Lower and middle-income earners will this year receive tax relief of up to $2,745 for singles, and up to $5,490 for dual income families. This is how much we want you to spend.
A trucking company will be able to upgrade its fleet, a farmer will be able to purchase a new harvester and a food manufacturing business will be able to expand its production line.
Just some suggestions for you.
BUSINESS TAX CUTS
Losses incurred to June 2022 can be offset against prior profits made in or after the 2018-19 financial year.
We pretty much just threw this in to confuse Arts students.
JOBS PLAN
The JobMaker hiring credit will be payable for up to twelve months and immediately available to employers who hire those on JobSeeker aged 16-35.
We are literally going to bribe bosses to take people off the dole.
ENVIRONMENT AND ENERGY
We are also providing $1.9 billion in new funding as part of our energy plan to support low emissions and renewable technologies, helping to lower emissions and address climate change.
Wait for it …
We are also helping to unlock five key gas basins starting with the Beetaloo Basin in the Northern Territory and the North Bowen and Galilee Basins in Queensland.
BOOM! Take that hippies!
NATIONAL SECURITY
The coronavirus is a new and invisible enemy. However, other threats to our security have not gone away.
Let’s not forget COVID-19 isn’t the only virus China has sent our way.
MORE FEDERAL BUDGET NEWS
Barefoot Investor: Why Treasurer’s advice will leave you broke
$103m boost to build radioactive waste dumping ground
New plan to help Aussie diggers
New top cop squad and plan to catch spies, white collar crims
Stay at home Aussies can stay on parent’s health plan for longer
Virus-hit aged care sector gets $2bn boost
Private schools’ huge funding boost over public
Domestic violence victims left behind in 2020 budget
Tech giants in tax firing line
Originally published as Federal budget: Joe Hildebrand explains Treasurer Josh Frydenberg’s 2020 Budget speech
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