The Australian Government’s 2021 federal budget was handed down last night, with leaders spending big to lock in the nation’s Covid-19 recovery.
AAP Image/Mick Tsikas
It’s being dubbed by the Morrison government as the most crucial budget since World War II, with more than $53 billion in new stimulus payments and funding being allocated for key services.
The winners? The country’s vaccination rollout program, women, the aged and child care sectors, major infrastructure projects, business owners and taxpayers.
The losers? The climate, renewables, universities, and international tourism were just a few of the areas which didn’t receive as much attention – from a financial point of view.
But what did the country’s three major political parties have to say? We spoke with Federal Finance Minister Simon Birmingham, Greens Leader Adam Bandt, and Labor Senator Katy Gallagher.
SENATOR SIMON BIRMINGHAM – MINISTER FOR FINANCE, LIBERAL PARTY OF AUSTRALIA
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Birmingham says the budget plan is one which is measured and prudent, with a focus on ensuring a sustainable debt profile.
He applauds Australia and his government for its pandemic response, particularly when comparing the nation’s economic position to many other country’s around the world.
The Finance Minister believes the budget has many measures designed to help ensure Australia’s productivity continues to grow.
He says the Morison government has implemented a series of reforms and incentives to generate innovation culture in Australia, and promote sustainable and positive long-term outcomes.
In terms of the housing bubble, Birmingham speaks of expanding government-guaranteed support for first home buyers, which will allow more young people to enter the property market.
Focussing on women, the minister applauded the introduction of economic security streams which have been introduced to support the female population.
ADAM BANDT MP – LEADER OF THE AUSTRALIAN GREENS PARTY
Australian Greens
On the other end of the political spectrum is Greens Leader, Adam Bandt who says the budget is only good for “the billionaires and big corporations”.
Bandt slams the $50 billion handouts and subsidies for the coal and gas industries and the $1.1 billion for new coal and gas projects during a “climate crisis”.
He argues it’s ridiculous that the budget has $62 billion allocated for the super-rich, all whilst the government’s own forecasts anticipate further wage cuts.
The Greens Leader was not surprised by the budget, and spoke about the “trickle-down effect”, whereby subsidies and handouts will eventually be passed down to low and middle-class citizens.
Will the budget promote any real change? Bandt says this level of spending could have turned Australia into a green energy superpower. But instead, it promotes coal and gas.
Bandt talks of global summit leaders from around the world now having to hold back-room meetings to work out how they deal with Australia’s climate stance.
All in all, Bandt is not a fan of the Government and thinks that “pressure is beginning to build” on the Prime Minister and his party allies.
SENATOR KATY GALLAGHER – AUSTRALIAN LABOR PARTY
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Senator Katy Gallagher is a Labor Party representative for the Australian Capital Territory, bringing our budget analysis to a conclusion.
Gallagher says it is extraordinary that there is $100 billion in spending, a massive deficit and a huge debt, yet real workers on the ground are still being left behind.
She believes the budget is more of a “political fix” than a real and genuine attempt to deal with weaknesses in the economy.
The Labor Party would have liked to see better wage forecasts, and they worry that wage growth is not only going to stop – but it’s going to go backwards.
Gallagher thinks the Australian public is looking for more permanent and sustainable solutions to economic, environmental and societal issues.
In terms of the budget’s focus on women, the senator welcomes the money being spent but says the financing lacks any real form of coordinated action to ensure members of the female population are both safe and valued.
William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment.
With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'.
A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.
In Short:
– Trump gives Hamas three to four days to accept a U.S.-backed Gaza peace plan, warning of consequences.
– Hamas calls the plan biased and insists on a complete Israeli withdrawal before considering any agreement.
U.S. President Donald Trump has given Hamas three to four days to accept a U.S.-backed peace plan for Gaza, warning of severe consequences if they reject it.The plan, shared by mediators Qatar and Egypt, emerged after Israeli Prime Minister Benjamin Netanyahu endorsed it during a visit to the White House. Hamas, which was not part of the talks, is expected to review the proposal that calls for disarmament, a previously rejected demand.
Trump stated that support for the plan came from both Israeli and Arab leaders, and he emphasised the need for Hamas to respond promptly. The proposal includes a ceasefire, hostage exchanges, an Israeli withdrawal from Gaza, and disarmament of Hamas, along with a transitional government.
A Hamas source described the plan as biased towards Israel and containing unacceptable conditions.
The group maintains that a complete Israeli withdrawal is a prerequisite for their agreement to any deal, while they are unwilling to disarm.
Pressure Mounts
Hamas faces significant pressure as foreign ministers from Saudi Arabia, Jordan, the UAE, Qatar, and Egypt have supported the initiative. Turkey’s intelligence head is also set to join discussions in Doha, marking a new level of mediation.
Despite expressing initial support, Netanyahu is cautious about the plan’s implications for Palestinian statehood and faces pressure from his coalition. Public sentiment in Gaza reflects a desire for peace, albeit with scepticism about the sincerity of both Trump and Netanyahu’s commitments.