Australian Federal Budget 2020: What We Know so Far

Australian Federal Budget 2020: What We Know so Far
Prime Minister Scott Morrison and Treasurer Josh Frydenberg arrive in the House of Representatives at Parliament House in Canberra, Australia on May 13, 2020. (Sam Mooy/Getty Images)

The Big Picture

* Scott Morrison and Josh Frydenberg say it will be a “jobs budget” with the aim of driving the recovery out of the first recession since the 1990s

* Estimated budget deficit of $200 billion

* Debt edging upwards of $800 billion

* Expected $140 billion in stimulus over four years


* Funding to expand two NSW dams, Wyangala and Dungowan

* $53 million funding for gas infrastructure, as part of a national plan

* $211 million for domestic fuel security facilities

* More flexible rules for the Northern Australia Infrastructure Facility to invest


* Possible bringing forward of personal tax cuts which were due to start in 2022

* 2.5 million pensioners to get extra help to make up for an inflation-related rise not going ahead

* HomeBuilder package likely to be extended

* No changes to the JobSeeker dole payments. Government wants more data on economic conditions before deciding.


* Consideration of a business investment allowance

* Wage incentive for small and medium-sized businesses to take on new workers

* Possible incentives for regional manufacturing

* $800 million aimed at helping individuals and businesses work online

* $53 million funding for television and film production and new content rules


* Extension of telehealth and e-prescription services

* Extra funding for aged care, ahead of the receipt of the royal commission report

* New strategy to get young people out of residential aged care

* $9 million for research into cancer in children and young adults


* $100 million for new Regional Recovery Partnerships (projects in areas hit by drought, bushfires and coronavirus)

* $30 million for the Regional Connectivity Program (local telecommunications projects)

* $50 million Regional Tourism Recovery initiative (assist businesses in regions heavily reliant on international tourism)

* $200 million for an additional round of the Building Better Regions Fund


*extra $326 million to provide 12,000 more university places for domestic students


* $7.6 million for parents experiencing stillborn babies or the death of a child under 12 months of age

* 700 new safe places for women and children escaping from domestic violence under $60 million “safe places” initiative.

By Paul Osborne