The Mid-Year Economic and Fiscal Outlook (MYEFO) is primarily a budget update, but sometimes can be a mini budget with further changes or more policy initiatives.
In fact this time there is $4.7 Billion of Government policy initiatives that we don’t yet know about. Hopefully more announcements will come, but the boost to the budget coffers has mainly come from taxpayers.
Stage 3 tax cuts are going ahead, passports now cost $50 more, but bracket creep means that pay rises could put you up in the next tax bracket.
Image: Image: Courtesy A. Copp
Produced By: Roderick Chambers
Featured In Story: Warren Hogan – Chief Economic Advisor Judo Bank
First aired on The Wire, Wednesday 13 December 2023