{"componentChunkName":"component---src-templates-news-single-js","path":"/news/federal-budget-update-2021","result":{"pageContext":{"title":"Federal Budget Update 2021","slug":"federal-budget-update-2021","data":{"title":"Federal Budget Update 2021","slug":"federal-budget-update-2021","acf_json":"{\"thumbnail_image\":{\"ID\":649,\"id\":649,\"title\":\"FederalBudgetUpdate\",\"filename\":\"FederalBudgetUpdate.jpg\",\"filesize\":146086,\"url\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"link\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/news\\/federal-budget-update-2021\\/federalbudgetupdate\\/\",\"alt\":\"\",\"author\":\"1\",\"description\":\"\",\"caption\":\"\",\"name\":\"federalbudgetupdate\",\"status\":\"inherit\",\"uploaded_to\":648,\"date\":\"2021-11-16 04:09:35\",\"modified\":\"2021-11-16 04:09:35\",\"menu_order\":0,\"mime_type\":\"image\\/jpeg\",\"type\":\"image\",\"subtype\":\"jpeg\",\"icon\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-includes\\/images\\/media\\/default.png\",\"width\":1189,\"height\":669,\"sizes\":{\"thumbnail\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate-150x150.jpg\",\"thumbnail-width\":150,\"thumbnail-height\":150,\"medium\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate-300x169.jpg\",\"medium-width\":300,\"medium-height\":169,\"medium_large\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"medium_large-width\":768,\"medium_large-height\":432,\"large\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate-1024x576.jpg\",\"large-width\":1024,\"large-height\":576,\"1536x1536\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"1536x1536-width\":1189,\"1536x1536-height\":669,\"2048x2048\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"2048x2048-width\":1189,\"2048x2048-height\":669,\"full_width\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"full_width-width\":1189,\"full_width-height\":669,\"medium2\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"medium2-width\":1189,\"medium2-height\":669}},\"thumbnail_text\":\"\",\"news_media\":[{\"media_type\":\"image\",\"image\":{\"ID\":649,\"id\":649,\"title\":\"FederalBudgetUpdate\",\"filename\":\"FederalBudgetUpdate.jpg\",\"filesize\":146086,\"url\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"link\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/news\\/federal-budget-update-2021\\/federalbudgetupdate\\/\",\"alt\":\"\",\"author\":\"1\",\"description\":\"\",\"caption\":\"\",\"name\":\"federalbudgetupdate\",\"status\":\"inherit\",\"uploaded_to\":648,\"date\":\"2021-11-16 04:09:35\",\"modified\":\"2021-11-16 04:09:35\",\"menu_order\":0,\"mime_type\":\"image\\/jpeg\",\"type\":\"image\",\"subtype\":\"jpeg\",\"icon\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-includes\\/images\\/media\\/default.png\",\"width\":1189,\"height\":669,\"sizes\":{\"thumbnail\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate-150x150.jpg\",\"thumbnail-width\":150,\"thumbnail-height\":150,\"medium\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate-300x169.jpg\",\"medium-width\":300,\"medium-height\":169,\"medium_large\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"medium_large-width\":768,\"medium_large-height\":432,\"large\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate-1024x576.jpg\",\"large-width\":1024,\"large-height\":576,\"1536x1536\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"1536x1536-width\":1189,\"1536x1536-height\":669,\"2048x2048\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"2048x2048-width\":1189,\"2048x2048-height\":669,\"full_width\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"full_width-width\":1189,\"full_width-height\":669,\"medium2\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"medium2-width\":1189,\"medium2-height\":669}},\"video\":false,\"video_embed\":null}],\"news_content\":\"<p>The Federal Budget was handed down last night by the Treasurer, the Hon Josh Frydenberg. The Treasurer\\u2019s overarching budget announcements targeted the following key areas:<\\/p>\\n<ul data-rte-list=\\\"default\\\">\\n<li>Personal income tax cuts<\\/li>\\n<li>Business tax incentives<\\/li>\\n<li>New apprenticeships and training places<\\/li>\\n<li>Infrastructure spending<\\/li>\\n<li>Increased funding for schools, hospitals, aged care, mental health and the NDIS<\\/li>\\n<\\/ul>\\n<p>These investments and fiscal policies are expected to further increase business confidence, achieve record-low unemployment rates, and maintain increased consumer spending. The result of such policies will see Australia\\u2019s economy continue to grow and exceed pre-pandemic levels.<\\/p>\\n<p>Due to Australia\\u2019s response to the pandemic, Treasury are forecasting unemployment to fall to 5% in the middle of 2022, before falling further to 4.75% in the middle of 2023. The unemployment rate has only ever fallen below 5% once in history, in the early 1970s.<\\/p>\\n<p>Finally, over the next four years, Treasury expects the deficit to nearly halve as the economy improves. The underlying cash deficit in 2021\\u201122 is projected to be $106.6 billion (5.0% of GDP). Furthermore, this is expected to improve over the forward estimates to a $57.0 billion deficit (2.4% of GDP) in 2024\\u201125.<\\/p>\\n<p>Although, if the pandemic has demonstrated anything, expect the unexpected.<\\/p>\\n<p><a href=\\\"https:\\/\\/budget.gov.au\\/\\\"><em>\\u00a0Click here to learn more about the 2021-22 Federal Budget announcements.<\\/em><\\/a><\\/p>\\n\",\"media_type\":\"image\",\"image\":{\"ID\":649,\"id\":649,\"title\":\"FederalBudgetUpdate\",\"filename\":\"FederalBudgetUpdate.jpg\",\"filesize\":146086,\"url\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/wp-content\\/uploads\\/2021\\/11\\/FederalBudgetUpdate.jpg\",\"link\":\"https:\\/\\/admin.hubpropertygroup.com.au\\/news\\/federal-budget-update-2021\\/federalbudgetupdate\\/\",\"alt\":\"\",\"author\":\"1\",\"description\":\"\",\"caption\":\"\",\"name\":\"federalbudgetupdate\",\"status\":\"inherit\",\"uploaded_to\":648,\"date\":\"2021-11-16 04:09:35\",\"modified\":\"2021-11-16 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Federal Budget was handed down last night by the Treasurer, the Hon Josh Frydenberg. The Treasurer’s overarching budget announcements targeted the following key areas:</p>\n<ul data-rte-list=\"default\">\n<li>Personal income tax cuts</li>\n<li>Business tax incentives</li>\n<li>New apprenticeships and training places</li>\n<li>Infrastructure spending</li>\n<li>Increased funding for schools, hospitals, aged care, mental health and the NDIS</li>\n</ul>\n<p>These investments and fiscal policies are expected to further increase business confidence, achieve record-low unemployment rates, and maintain increased consumer spending. The result of such policies will see Australia’s economy continue to grow and exceed pre-pandemic levels.</p>\n<p>Due to Australia’s response to the pandemic, Treasury are forecasting unemployment to fall to 5% in the middle of 2022, before falling further to 4.75% in the middle of 2023. The unemployment rate has only ever fallen below 5% once in history, in the early 1970s.</p>\n<p>Finally, over the next four years, Treasury expects the deficit to nearly halve as the economy improves. The underlying cash deficit in 2021‑22 is projected to be $106.6 billion (5.0% of GDP). Furthermore, this is expected to improve over the forward estimates to a $57.0 billion deficit (2.4% of GDP) in 2024‑25.</p>\n<p>Although, if the pandemic has demonstrated anything, expect the unexpected.</p>\n<p><a href=\"https://budget.gov.au/\"><em> Click here to learn more about the 2021-22 Federal Budget announcements.</em></a></p>\n","media_type":"image","image":{"ID":649,"id":649,"title":"FederalBudgetUpdate","filename":"FederalBudgetUpdate.jpg","filesize":146086,"url":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","link":"https://admin.hubpropertygroup.com.au/news/federal-budget-update-2021/federalbudgetupdate/","alt":"","author":"1","description":"","caption":"","name":"federalbudgetupdate","status":"inherit","uploaded_to":648,"date":"2021-11-16 04:09:35","modified":"2021-11-16 04:09:35","menu_order":0,"mime_type":"image/jpeg","type":"image","subtype":"jpeg","icon":"https://admin.hubpropertygroup.com.au/wp-includes/images/media/default.png","width":1189,"height":669,"sizes":{"thumbnail":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate-150x150.jpg","thumbnail-width":150,"thumbnail-height":150,"medium":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate-300x169.jpg","medium-width":300,"medium-height":169,"medium_large":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","medium_large-width":768,"medium_large-height":432,"large":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate-1024x576.jpg","large-width":1024,"large-height":576,"1536x1536":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","1536x1536-width":1189,"1536x1536-height":669,"2048x2048":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","2048x2048-width":1189,"2048x2048-height":669,"full_width":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","full_width-width":1189,"full_width-height":669,"medium2":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","medium2-width":1189,"medium2-height":669}},"thumbnail_media":{"media_type":"image","image":{"ID":649,"id":649,"title":"FederalBudgetUpdate","filename":"FederalBudgetUpdate.jpg","filesize":146086,"url":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","link":"https://admin.hubpropertygroup.com.au/news/federal-budget-update-2021/federalbudgetupdate/","alt":"","author":"1","description":"","caption":"","name":"federalbudgetupdate","status":"inherit","uploaded_to":648,"date":"2021-11-16 04:09:35","modified":"2021-11-16 04:09:35","menu_order":0,"mime_type":"image/jpeg","type":"image","subtype":"jpeg","icon":"https://admin.hubpropertygroup.com.au/wp-includes/images/media/default.png","width":1189,"height":669,"sizes":{"thumbnail":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate-150x150.jpg","thumbnail-width":150,"thumbnail-height":150,"medium":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate-300x169.jpg","medium-width":300,"medium-height":169,"medium_large":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","medium_large-width":768,"medium_large-height":432,"large":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate-1024x576.jpg","large-width":1024,"large-height":576,"1536x1536":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","1536x1536-width":1189,"1536x1536-height":669,"2048x2048":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","2048x2048-width":1189,"2048x2048-height":669,"full_width":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","full_width-width":1189,"full_width-height":669,"medium2":"https://admin.hubpropertygroup.com.au/wp-content/uploads/2021/11/FederalBudgetUpdate.jpg","medium2-width":1189,"medium2-height":669}},"video":false,"video_embed":null},"cats":[{"term_id":6,"name":"Market","slug":"market","term_group":0,"term_taxonomy_id":6,"taxonomy":"topics","description":"","parent":0,"count":28,"filter":"raw","term_order":"0"}],"seo":false,"cats_all":[{"wordpress_id":2,"title":"Construction update","slug":"update"},{"wordpress_id":6,"title":"Market","slug":"market"},{"wordpress_id":17,"title":"Projects","slug":"projects"},{"wordpress_id":5,"title":"Team","slug":"team"}]}}},"staticQueryHashes":["1567926623","1567926623"]}