Latest News from Newealth

15 May 2024

Australian Federal Budget 2024

The Federal Treasurer Jim Chalmers has handed down his third Budget with no significant changes to what had already previously been announced.

It is all about increased spending and that will cause the budget falling back into a deficit. However the Federal Treasure is telling us that all this increased spending will not fuel inflation.

This is nonsense, without increase productivity, increased spending is fuel for inflation and high inflation can only mean increased interest rates.

It is important to remember that these Budget announcements are currently proposals and will still need to be legislated.

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