Nucleus Wealth Insights

Treasurer Josh Frydenberg handed down his second "pandemic budget" for 2021-2022 amidst a backdrop of continuing uncertainty. Acknowledging that the virus is a continuing threat to lives and livelihoods, this budget is again framed to prioritise jobs and investment. View presentation slides: https://nucleuswealth.com/wp-content/uploads/2021/05/australianbudget.pdf As well as stimulus measures, the focus has been on structural reforms across many of the government portfolios. Skills, infrastructure, deregulation, and digital transformation are all featured, together with a continued emphasis on services. The current and projected hit to immigration, one of Australia's favourite growth levers, has seen our per capita income look remarkable as the labour market tightens and more jobs are serviced by local unemployment. If there was one main takeaway, it is that budget deficits are here to stay. As we will cover more in the show, our historical habit of big budget deficits will continue, taking advantage of t