20 Sep 2019
Friday Tidbit: Australian Federal Budget
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
Now for some good news.
The Federal Budget is only $690 million away from delivering a budget surplus which is when the government spends less on an annual basis than the income it collects.
It has taken 12 years to get to this point and the next question is what does the government do with the cash assuming the Federal Budget does finally go back into surplus?
Should the surplus be used to reduce tax, increase infrastructure investment, increase welfare payments and or begin repaying the $648 billion (US$445 billion) in foreign debt that Australia owes?
We will leave this with you to make your own judgement.
Click for chart.
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