2021 Australian federal budget

The 2021 Australian federal budget was the federal budget to fund government services and operations for the 2021–22 financial year. The budget was presented to the House of Representatives by Treasurer Josh Frydenberg on 11 May 2021. It was the eighth budget to be handed down by the Liberal/National Coalition since their election to government at the 2013 federal election, and the third budget to be handed down by Frydenberg and the Morrison government. This budget was the second last to be handed down by the Morrison government before their defeat at the 2022 Australian federal election.[1]

 () Australian federal budget 2021
Submitted11 May 2021
Submitted byMorrison government
Submitted toHouse of Representatives
PartyLiberal/National Coalition
TreasurerJosh Frydenberg
Total revenue$496.6 billion (24.5 % of GDP)
Total expenditures$589.3 billion (29.2% of GDP)
Deficit$106.6 billion (5.0% of GDP)
Notes: Surplus = receipts - payments - net Future Fund earnings.

Italics are estimates in the budget

‹ 2020

Background edit

This budget was handed down during the COVID-19 pandemic, and as such included further and ongoing measures for the recovery of the economy.[2]

Expenditure edit

Debt and deficit edit

The Budget underlying cash deficit for 2021/22 is expected to be $106.6 billion, falling $52.7 billion from 2020/21.[3]

The Australian government's debt level was forecast to be $963 billion in 2020/21.[3]

See also edit

References edit

  1. ^ "Labor, Anthony Albanese make history with 2022 federal election victory". ABC News. 21 May 2022. Retrieved 18 October 2022.
  2. ^ "Supporting Australians through COVID-19" (PDF). Budget. 11 May 2021.
  3. ^ a b "Budget 2021–22 Overview" (PDF). Budget.