{"id":1395,"date":"2022-10-26T05:16:35","date_gmt":"2022-10-26T05:16:35","guid":{"rendered":"https:\/\/actinvest.com.au\/?p=1395"},"modified":"2022-10-26T05:16:35","modified_gmt":"2022-10-26T05:16:35","slug":"budget-october-2022-23-comprehensive-summary","status":"publish","type":"post","link":"https:\/\/actinvest.com.au\/index.php\/budget-october-2022-23-comprehensive-summary\/","title":{"rendered":"Budget October 2022-23 &#8211; Comprehensive summary"},"content":{"rendered":"<p>\u00a0<\/p>\n<p><strong><em>The Federal Government is to continue spending more than it earns for at least the next two years at least.<\/em><\/strong><\/p>\n<p>\u00a0<\/p>\n<p style=\"text-align:center\"><img alt=\"\" src=\"https:\/\/plannerweb.com.au\/images\/budget october directions.jpg\" width=\"475\" \/><\/p>\n<p>\u00a0<\/p>\n<p>The Federal Budget estimates a deficit of $36.9 billion for 2022-23 and another $44 billion for 2023-24. While the economy is expected to grow by 3.25 per cent in 2022-23, it is predicted to slow to 1.5 per cent for 2023-24, a full percentage point lower than forecast in March 2022, a drop almost entirely due to global influences such as the Ukraine war and slowing economies, especially China.<\/p>\n<p>Inflation is expected to peak at 7.75 per cent later in 2022 but is projected to moderate to 3.5 per cent through 2023-24 and return to the Reserve Bank&#039;s target range in 2024-25.<\/p>\n<p><strong>Below are the key categories of the 2022-23 budget.<\/strong><\/p>\n<h4><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm\">Cost of Living Relief<\/a><\/h4>\n<p>We are providing responsible cost of living relief that doesn\u2019t put additional pressure on inflation.<\/p>\n<ul>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m1\"><strong>Cheaper child care<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m2\"><strong>Expanding Paid Parental Leave<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m3\"><strong>More affordable housing<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m4\"><strong>Helping more Australians to realise their dream of home ownership<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m5\"><strong>Cutting the cost of medicines<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m6\"><strong>Getting wages moving again<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/cost-of-living.htm#m7\"><strong>Secure and well paid jobs<\/strong><\/a><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h4><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm\">A stronger, more resilient economy<\/a><\/h4>\n<p>Investing in the capabilities of our people and the capacity of our economy.<\/p>\n<ul>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m1\"><strong>Training, skills and supporting students<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m2\"><strong>Skilled migration<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m3\"><strong>Advancing gender equality<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m4\"><strong>Powering Australia<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m5\"><strong>Climate change, environment and disasters<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m6\"><strong>Investing in priority industries, infrastructure and connectivity<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m7\"><strong>Supporting small business<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/stronger-economy.htm#m8\"><strong>Driving regional growth and backing agriculture<\/strong><\/a><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h4><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/budget-repair.htm\">Responsible Budget repair<\/a><\/h4>\n<p>The best defence against uncertainty overseas is a responsible Budget at home<\/p>\n<ul>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/budget-repair.htm#m1\"><strong>Structural pressures on the Budget<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/budget-repair.htm#m2\"><strong>Managing the Budget responsibly<\/strong><\/a><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h4><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm\">Paying for what\u2019s important<\/a><\/h4>\n<p>By responsibly managing the Budget, we can pay for the things that Australians value the most.<\/p>\n<ul>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm#m1\"><strong>Better health care<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm#m2\"><strong>Securing the NDIS<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm#m3\"><strong>Better aged care<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm#m4\"><strong>Supporting our veterans<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm#m5\"><strong>A better future for First Nations people<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/budget.gov.au\/2022-23-october\/content\/paying.htm#m6\"><strong>Ending violence against women<\/strong><\/a><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Source<br \/>\nbudget.gov.au<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0<\/p>\n<p><strong><em>The Federal Government is to continue spending more than it earns for at least the next two years at least.<\/em><\/strong><\/p>\n<p>\u00a0<\/p>\n","protected":false},"author":1,"featured_media":1396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1395"}],"collection":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=1395"}],"version-history":[{"count":1,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1395\/revisions"}],"predecessor-version":[{"id":1397,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1395\/revisions\/1397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media\/1396"}],"wp:attachment":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=1395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=1395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=1395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}