Scott Morrison said, “the results of the dip in the economy globally are 45 times worse than the GFC.” That’s an incredible dip compared to something that shook up the Australian economy a few years ago. What they’ve encouraged is more spending, especially for businesses.
They’ve done extensive stuff with what they’re calling the “job maker program”, driving jobs, and also hopefully increasing confidence in the market in general.
This budget is good for young people, business owners. Anyone still working is going to get probably up to $2,000 in their pockets, which is pretty fantastic.
There’s nothing directly for investors or self funded retirees, but the indirect effects of the higher spending, driving jobs and confidence, if you’re invested in the share market, there should be an indirect return in uplift in the market value of our share market.
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