The Federal Budget announced last night by Treasurer Wayne Swan delivers on the Government’s much-touted promise to return to surplus next financial year, albeit a small one of just $1.5 billion. It has done this by cutting $5.4 billion from defence spending, cancelling its previously promised 1% reduction in company tax, slowing growth in foreign aid and tightening super concessions for over 50s and high income earners. Having found $34 billion in savings, a substantial amount has been spent on additional benefits and schemes directed at lower income earners, families, the elderly and disabled.

Click on the links below for an impact analysis from our experts:

- Economic and market impact - Matthew Sherwood, Head of Investment Markets Research
- Legislative changes that could impact you and your clients - Perpetual Technical Team

For more information, contact your Perpetual Business Development Manager or call Adviser Services on 1800 062 725 during business hours (Sydney time).

 

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