Some groups will do better than others this year.
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Treasurer Josh Frydenberg is handing down this third federal budget. Picture: Sitthixay Ditthavong
WINNERS
Small businesses
- The government is extending its loan scheme for small businesses.
Older Australians
- Increased aged care spending will grow the number of home care packages by 80,000.
Parents
- The budget includes $1.7 billion for childcare, and the government will provide $1.6 billion for preschools.
Industry
- Gas infrastructure projects, oil refining and energy projects all receive government support.
LOSERS
Stranded Australians
- There's money for increased consular services helping vulnerable Australians overseas, but no funding to expand quarantine outside the Northern Territory.
Universities
- Despite small-phased programs for international students, the budget predicts the rate of arrivals will face constraints in the first half of 2022.
Younger Australians
- The number of young people looking for full-time work and who have been unemployed for more than a year grew by 54 per cent between March 2020 and 2021.
Tourism operators
- Tourism businesses will receive targeted support, but economists expect inbound international travel to remain low through to mid-2022.
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