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Grafa’s Budget Special 2022/2023 Australian Federal Budget explained

This year’s budget is about helping Aussies with the high cost of living and getting people back into work.

It’s a big spending budget, with our nation’s finances heading a further $78 billion into the red.
To the winners and losers; Low to middle income earners get a one-off $420 ‘cost of living tax offset’.
The fuel excise tax will also be cut in half for the next 6 months.
Pensioners and welfare recipients will receive a one-off $250 payment.
There’s a $2.8 billion dollar pool for upskilling apprentices.
Big spending on infrastructure – with $17.9 billion of priority road and rail infrastructure as part of the record $120 billion 10-year infrastructure investment pipeline.
The safety of health and women is a priority of this budget, with more than 2 billion dollars allocated to spend on initiatives to support female wellbeing.

There are some big losers in the budget;
Universities missed out again.
Travel was also left out, even as the countrys’ international borders re-open to the world.
And climate change was again a very notable absence, despite the disastrous floods still wreaking havoc on the east coast.
Some economists say they are worried this big spending pre-election budget will only boost the already strong economy and add fuel to the raging inflation fire.

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