Federal Budget 2022: Politicians, industry reactions revealed

Fallout from the 2022 Budget has forced the PM to defend the New Home Guarantee, while the Opposition attacked the "sincerity" of cost of living relief. See the reactions from industry figures, advocates and politicians.

Treasurer Josh Frydenberg has handed down his fourth federal budget, dubbed a battlers' budget with the 2022 papers revealing measures to reduce cost of living as well as significant training and defence spending.

Motorists and low to middle-income taxpayers are among the budget's big winners, with the fuel excise slashed in half and a $420 one-off tax offset announced for this financial year.

Pensioners and welfare recipients will also benefit from a $250 cash bonus, and cheaper prescriptions.

The government has also expanded the Home Guarantee Scheme from 20,000 to 50,000 places to allow eligible first home buyers to get into a property with a deposit as small as 2 per cent.

In response to increasing national security threats from hostile foreign actors, the Morrison government has also committed to a nearly $10 billion spend to increase our offensive and defensive cyber capabilities.

Now the wash-up from the budget is well and truly underway with politicians, advocates and industry leaders from all sides and sectors responding to the wins and losses.

Originally published as Federal Budget 2022: Politicians, industry reactions revealed

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