Australian Federal Budget 2017 - 2018
Regaining trust, and not a return to budget surplus, was clearly Treasurer Scott Morrison’s key objective for the 2017-18 Federal Budget.
In recent years the budget process has lost much of its economic credibility, and with a backdrop of growing distrust of institutions generally, the Government needed to push the reset button. It needed – to use the Treasurer’s own words – an “honest budget”.
So the 2017-18 Federal Budget has been framed around a suite of new institutions in particular big banks, new regulation, new levies and a significant foray into directly funding key national infrastructure programs and corporations.
Infrastructure spending, investment in education and improvements in housing affordability demonstrate that the Government is willing to go "all in" to boost economic growth.