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Australian Budget being viewed with scepticism

Author
Newstalk ZB,
Publish Date
Wed, 9 May 2018, 8:11AM
The Coalition Government is promising the country will return to surplus in 2020. (Photo \ Getty Images)

Australian Budget being viewed with scepticism

Author
Newstalk ZB,
Publish Date
Wed, 9 May 2018, 8:11AM

The Australian Budget is being viewed with scepticism by some economists.

The Coalition Government is promising the country will return to surplus in 2020.

It says there'll be a $2.2 billion surplus by 2019/20.

However, JMIS analyst Andrew Kelleher told Mike Hosking some economists are calling the assumptions made in the Budget of Treasurer Scott Morrison as 'heroic'.

"He is assuming that GDP growth will go from 2.1 percent to 3 percent, picking wage growth as well, we are not seeing that anywhere else in the world."

Kelleher says Australians on low to middle incomes will have more money in their pockets

He says those in line for immediate tax cuts include people on salaries of between $48,000 and $90,000, who will get $530 of tax cuts each year.

"Don't know if that's enough to swing you to vote for these guys. Then there is a seven-year plan of bringing in the tax cuts."

LISTEN ABOVE AS ANDREW KELLEHER SPEAKS WITH MIKE HOSKING

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