The 2020 Australian federal budget was the federal budget to fund government services and operations for the 2020–21 financial year. The budget was presented to the House of Representatives by

Treasurer A treasurer is the person responsible for running the treasury of an organization. The significant core functions of a corporate treasurer include cash and liquidity management, risk management, and corporate finance. Government The treasury o ...

Josh Frydenberg on 6 October 2020. It is the seventh budget to be handed down by the

Liberal/National Coalition The Liberal–National Coalition, commonly known simply as "the Coalition" or informally as the LNP, is an alliance of centre-right political parties that forms one of the two major groupings in Australian federal politics. The two partners in ...

since their election to government at the 2013 federal election, and the second budget to be handed down by Frydenberg and the Morrison Government. Due to the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...

and the subsequent economic recession, the budget was submitted five months later than the traditional annual date of the second Tuesday in May.

Background

This budget comes after Australia has reported its largest budget deficit since the

second world war World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

. The COVID-19 pandemic put a strain on Australia’s economy, and emergency measures were taken to keep Australians employed. The 2020/2021 budget, presented 5 months later than its traditional May date, will take this pandemic into account, especially for the department of Home Affairs, with a COVID-19 respond package.

Major measures

Receipts

Expenses

Expenditure

Debt and deficit

Deficit The 2020/21 budget is expected to produce a net deficit of approximately $213 billion. Debt

Opposition and crossbench response

Reception

References

External links

Official website
{{Australian federal budget Australian budgets Australian federal budget Australian federal budget 2020 in Australian politics October 2020 events in Australia