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Budget 2020: Winners, losers, updates and reaction
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Your evening update of the latest Canberra news
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Budget edition, Tuesday, October 6, 2020
Live updates: winners, losers, news, updates and reaction to Josh Frydenberg's budget
Follow along with the latest news on the 2020 federal budget as it happens.
The journalism you trust to keep you connected
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Top stories
An ideological shift, but a failure of imagination
Analysis:
The need for haste in delivering stimulus is real, but Josh Frydenberg's budget is arguably too safe, writes
Mark Kenny
.
The winners and losers from the budget
Some groups have done better than others this year as the government looks to protect Australia from the COVID-19 fallout.
Trillion-dollar debt, billions in tax breaks, subsidies
The private sector will do the heavy lifting to pull us out of the recession, aided by billions of dollars in wage subsidies and tax breaks.
No long-term boost for APS following pandemic
Thousands of public service jobs created in response to the pandemic will not be retained, it has been revealed in the budget.
Tax cuts brought forward to put billions in pockets
Tax cuts slated to be introduced in 2022 will be brought forward and backdated to the start of this financial year.
Money for new hires, all new assets written off
The JobKeeper wage program will be replaced with a new subsidy specifically for employing young people on unemployment payments.
Big deficit as budget spends for recovery
Finance Minister Mathias Cormann said the hard work had been done "to put us in a strong position to do what was needed to be done."
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