Australia fires dual fiscal-monetary shots to support economy
Government hands down an expansionary budget hours after central bank eases policy for the first time in a year
Sydney
AUSTRALIA injected a double-dose of stimulus as the government handed down an expansionary budget hours after the central bank eased policy for the first time in a year.
Treasurer Scott Morrison forecast a A$37.1 billion (S$38 billion) deficit in the 12 months through June 2017, wider than he predicted six months ago. His plan for growth: cut company taxes, boost infrastructure spending and provide income-tax relief. That's assuming he remains in office following an expected July 2 election.
"The government, in a challenging budget environment, is making responsible choices in its nat…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US veto sinks Palestinian UN membership bid in Security Council
Pro-China local leader ousted in Solomon Islands election
Japan‘s March inflation slows to 2.6%, eyes on BOJ move
S&P downgrades Israel rating on heightened geopolitical risk
‘We have our jury’: panel selected for Trump criminal trial
UK wage growth and services inflation too high for rate cut, BOE’s Greene says