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PwC’s Federal Budget 2017-18 – Prosperity or Peril

May 27, 2017

PwC’s Federal Budget 2017-18 – Prosperity or Peril

PwC (May 2017). Regaining trust, and not a return to budget surplus, was clearly Treasurer Scott Morrison’s key objective for the 2017-18 Federal Budget.

In recent years the budget process has lost much of its economic credibility, and with a backdrop of growing distrust of institutions generally, the Government needed to push the reset button. It needed – to use the Treasurer’s own words – an “honest budget”.

So the 2017-18 Federal Budget has been framed around a suite of new institutions in particular big banks, new regulation, new levies and a significant foray into directly funding key national infrastructure programs and corporations.