“In the budget ... there will be further measures to support families to meet the cost of living pressures, in a targeted and proportionate way,” Frydenberg wrote in an op-ed for News Corp’s The Australian on March 17.
“In the second phase of our fiscal strategy, we will target a budget position that allows us to stabilise and then reduce debt as a share of the economy. This year’s budget will confirm that this is the trajectory we are now on.
“It will show a substantial improvement to the budget bottom line—the product of more Australians in work and fewer Australians on welfare,” he said.
The budget, which will be delivered in the lead up to this year’s federal elections, is expected to reveal a projection where debt compared to the size of the economy will peak lower than earlier thought.Frydenberg said that during the pandemic the ruling Coalition government had driven down electricity prices by eight percent, provided $10 billion in childcare support, and around $30 billion in tax relief for low and middle income earners.
