For Australia’s Prime Minister Scott Morrison, Tuesday’s annual budget can’t come soon enough as he tries to put a torrid opening to the year behind him and focus voter attention on the strength of the economic recovery.
After having his political judgment questioned, Morrison will attempt to reset the narrative by highlighting his economic stewardship through the pandemic. He’s likely to receive a budget boost as economists see the deficit for the 12 months through June at 152 billion Australian dollars ($118 billion), about 25% less than Treasury’s December estimate, and unemployment falling to 4.5% in two years.
Morrison will be able to showcase his conservative government’s success in stemming business failures and job losses through stimulus programs such as the JobKeeper wage subsidy. He will also be able to point to the authorities successful combating of COVID-19 that kept infections to fewer than 30,000.