Australia | Budget windfalls parlayed into more stimulus
Australia’s remarkably strong economic performance since the onset of the pandemic has led to a marked revision to the budget deficit this year; the Treasury now expect a deficit of 7.8% of GDP in FY21, against a forecast of 11% from six months earlier.
What you will learn in this comprehensive 4 page report:
- The fast-tracked labour market recovery has resulted in less spending on support services than was anticipated and has boosted income tax and GST revenues. Record high commodity prices have also been a boon for the government’s coffers.
- But rather than bank these gains and embark on the task of budget repair, the government has opted to provide additional stimulus to the economy. This will provide further impetus to the recovery in the near term.
- There were relatively few surprises in the Budget, and our most recent forecast revisions largely pre-empted policy changes. Public demand was revised higher (although a further upgrade is still to come), and we expect the participation rate (for women in particular) will receive a long-term boost.
Maintenance in Australia: 2023 Edition | Executive Summary
Australia’s maintenance market is estimated to have increased to $53.5bn in FY22, driven by road rehabilitation following flooding along the east coast of Australia. Road maintenance expenditure will continue to be supported over the near-term by Federal and State government programs. Mining maintenance spending will be buoyed by elevated commodity prices, and increased maintenance requirements on recently built LNG facilities.Find Out More
Australia: Roadblocks cleared for build-to-rent in Australia
The pipeline of build-to-rent (BTR) developments across Australia continues to swell, with our project tracking currently capturing a pipeline of circa 45,000 announced units. Around 5,900 units have broken ground in FY2023, with a further 15,000 geared to commence across FY2024 and FY2025.Find Out More