Here’s your five-minute guide to the budget

From tax cuts and childcare to education and COVID-19 vaccines, here’s everything you need to know about the budget at a glance.

Treasurer Josh Frydenberg has unveiled another massive-spending budget aimed at locking in Australia’s pandemic recovery – and it’s got something for just about everyone.

With an eye-watering deficit of $161 billion and a national debt heading towards $1 trillion, Mr Frydenberg has made no apologies for the “significant and unavoidable cost” of digging the country out of its first recession in three decades.

From tax cuts for middle Australia and childcare subsidies for busy families, to sweeteners for the “tradie and the truckie and the teacher and the nurse”, Mr Frydenberg’s second budget in six months throws in everything but the kitchen sink.

“Australia’s economic recovery is now well underway and we must keep the momentum going,” the Treasurer said in his budget speech to parliament on Tuesday night.

“This budget secures the recovery and sets Australia up for the future. Tax cuts to put more money in people’s pockets. Business incentives to unleash a further wave of investment. New apprenticeships and training places to get more Australians into work. A $110 billion infrastructure pipeline to build our nation’s future. And record funding to guarantee the essential services Australians rely on. Jobs are coming back. The economy is coming back. Australia is coming back.”

Here’s your five-minute guide with everything you need to know.