Commonwealth Budget 2016 – What does it mean?

by John Daley

Presented at the International CEO Forum, Wednesday 4 May

In Budget 2016, fixing the deficit receded over the horizon – again. The revised plan to improve outcomes still depends on organic revenue increase, and remains very vulnerable to events. The budget will contribute a little to economic growth through corporate tax cuts and the new jobseekers package, but the actual impact on jobs and growth will be very small. The budget went some way to be seen as fair. It targeted superannuation tax concessions better, and promised tax integrity measures for multinationals that appear to be large and serious.