Josh Frydenberg is pegging his government’s re-election chances on a budget cash splash fuelled by a “remarkable” economic rebound, with $8.6bn promised for Australian households, and billions of dollars of new spending for the regions, defence and infrastructure.
As the government prepares to kickstart its campaign for a May election within days, Tuesday’s budget includes an extra tax cut for 10 million low and middle income workers worth up to $420, and a $250 one-off cash payment for pensioners and concession card holders aimed at softening the blow of rising inflation. These measures will cost a combined $5.6bn.
