Budget day

  • Personal tax cuts outlined
  • Infrastructure spending in 2018/2019 budget
  • Unemployment at 5.25% in 2018/19 falling to 5% in 2020/21.
  • GDP growth at 3% in 2018/2019 staying there through to 2021/2022
  • Net debt peaking at 18.6% in 2017/2018, falling to 3.8% by 2028/29
  • Budget surplus at 11 billion in 2020/21 16.6 billion 2021/22
  • 2019/20 budget surplus at 2.2 billion vs 2.6 billion deficit seen in Dec
  • Budget returning to small surplus in 2019/2020 - a year earlier then Dec estimate
  • 2018/2019 budget deficit at 14.5 billion vs 20.5 billion deficit seen in Dec

S&P out with a note on Bloomberg: outlook remains 'negative' after budget