{"id":71626,"date":"2020-09-26T14:20:03","date_gmt":"2020-09-26T04:20:03","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/goldenplains\/?p=71626"},"modified":"2020-09-26T14:21:40","modified_gmt":"2020-09-26T04:21:40","slug":"budget-to-be-a-titanic-effort-pm","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/goldenplains\/news\/budget-to-be-a-titanic-effort-pm\/","title":{"rendered":"Budget to be a ‘titanic effort’: PM"},"content":{"rendered":"

BY TIM DORNIN<\/strong><\/p>\n

 <\/p>\n

THE Federal budget will be “unprecedented” in Australia’s history as the Federal Government does some “very heavy lifting” to ensure the economy can emerge successfully from the COVID-19 economic crisis, Prime Minister Scott Morrison has said.<\/p>\n

Mr Morrison said the government will continue to step up with targeted spending to help increase the number of jobs.<\/p>\n

“It’s going to be a great budget. It’s going to be a budget that’s going to have the most unprecedented investment in Australia’s future,” the PM told reporters in Adelaide on Saturday.<\/p>\n

“It will be a titanic effort that we’re involved in to ensure that this country can get back on the growth path that we want to be on.<\/p>\n

“That means we’re going to have to do some very heavy lifting in this budget and that comes at a significant cost.”<\/p>\n

The Government on Friday released the final budget outcome for 2019\/20, which revealed the\u00a0COVID-19 pandemic and deepest recession since the 1930s had turned a forecast $5 billion surplus into an $85.3 billion deficit.<\/p>\n

It was also in stark contrast with the midyear economic review released in December as the government pumped billions of dollars of support into the economy and tax revenues dived.<\/p>\n

Treasurer Josh Frydenberg said Australia had approached the global pandemic from a position of economic strength.<\/p>\n

“Yes, the hole in the Australian economy is significant. Yes, the road back will be long, bumpy and hard,” he told reporters in Canberra on Friday.<\/p>\n

“But we have performed so much better than nearly every other nation in the world.”<\/p>\n

The 2020\/21 budget will be delivered on 6 October and Mr Morrison said he, the treasurer and Finance Minister Mathias Cormann had been over every dollar to ensure all the government’s spending was “targeted” and “proportionate”.<\/p>\n

“It’s\u00a0designed to ensure Australia comes out of the COVID-19 recession with thousands, indeed millions of jobs,” the Prime Minister said.<\/p>\n","protected":false},"excerpt":{"rendered":"

BY TIM DORNIN   THE Federal budget will be “unprecedented” in Australia’s history as the Federal Government does some “very heavy lifting” to ensure the economy can emerge successfully from the COVID-19 economic crisis, Prime Minister Scott Morrison has said. Mr Morrison said the government will continue to step up with targeted spending to help […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":170,"featured_media":71627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-71626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nBudget to be a 'titanic effort': PM - Golden Plains Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/goldenplains\/news\/budget-to-be-a-titanic-effort-pm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget to be a 'titanic effort': PM - Golden Plains Times\" \/>\n<meta property=\"og:description\" content=\"BY TIM DORNIN   THE Federal budget will be “unprecedented” in Australia’s history as the Federal Government does some “very heavy lifting” to ensure the economy can emerge successfully from the COVID-19 economic crisis, Prime Minister Scott Morrison has said. 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