Australian government has been in office for five months. Treasury Minister Jim Chalmers will submit his first federal budget at AEAST 7:30 tomorrow night at Federal Budget - Federal Budget for fiscal year 2022-23html, which is the first budget of the Labor Party in nearly 10 years, , outlining the government's future economic plan.
At present, the Australian economy is facing High inflation , High cost of living increases , and after large-scale floods Reconstruction after disasters Major expenditures and grocery prices have further soared, Hard labor shortage , and at the same time High recession http://www.sub.com/
Let's take a look at what we've learned so far about the new budget:
National Tax Expenditure
- Labour refused to cancel the former government's third phase tax cut plan, which will cancel the 37% marginal tax rate and reduce the 32.5% marginal tax rate to 30%. This means that when the plan comes into effect in 2024-25, the annual income of about 600,000 high-income earners will increase by AU$9,075
Economic operation
- annual inflation rate rose to 6.1% in the second quarter of this year, RBA predicts that the consumer price index will reach a peak of 7.75% this year
- Central Bank has raised interest rates for six consecutive months, the current official The cash rate is 2.6%
- In the year ended June, wage growth rate rose to 2.6%, the highest level since September 2014, but it is still far lower than the inflation rate http://www.https://www.https://www.https://www.https://www.html.com/Article.https://www.html.com/Article.https://www.html.com/Article.com/Article.https://www.html.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Article.com/Ar 95,000 , "solving the serious shortage currently facing the Australian economy"
- additional 36.1 million for visa review to support 500 staff members in the next nine months to speed up the response to a large number of trials
- After graduation, the term of work rights will be extended: Bachelor's degree graduation will be extended from two years to four years to four years to master's degree graduation will be extended from three years to five years to doctoral degree graduation will be extended from four years to six years
Living expenses
html ml9Family health
- paid parental leave allowance will be extended for six weeks to 26 weeks (6 months), with the amount of subsidy increased by AU$6,499
- The highest parental subsidy rate increased to 90%, and increased subsidies to families with incomes below AU$300,000.The policy will begin in July 2023, with a cost of $5.4 billion for AU$5.4 billion for a 12-month survey on the rise in child care costs in Australia 5.8 million for six projects to increase women's participation in the workforce and representation in leadership positions, bringing 5,000 women nationwide Direct benefits
- From January 1, 2023, the maximum general total payment for PBS in the drug welfare program has been reduced from AU$42.50 to AU$30, saving 300-450 per year for those taking two or three drugs. The government spends nearly 200 million 4 billion to extend the response measures for new crown Month, as of December 31, 35 million were included in PCR detection , 115 million were used for rapid antigen detection, and 235 million were used for personal protective equipment
education
- allocated 485.5 million in two years, for low social and economic backgrounds or rural and remote areas. The district's students, disabled and indigenous students increased by 20,000 university places,
- added 180,000 free vocational education TAFE places, the program cost 1.1 billion, and the federal government and states and territories half-invested
