Federal budget delayed

By Lachlan Maddock

— 1 minute read

20 March 2020

Prime Minister Scott Morrison has announced that the federal budget will not be handed down until later this year and shared details on the second stimulus.

The budget is now planned for 6 October.

“The idea that you can actually put together any sort of forecast around the economy at this time is simply not sensible,” Mr Morrison said.

He also provided more detail on the government’s forthcoming second stimulus, which will be centred on small and medium-sized businesses.

“We are working on a package that will cushion the blow over the next six months, and will provide the necessary support so people can get on that bridge, to get them to the other side,” Mr Morrison told media.

“That is focusing heavily on small, [medium-sized] businesses, sole traders, and it is also providing for the incoming support that will be necessary for those most directly impacted by the economic downturn caused by the coronavirus.”

Both commercial and residential tenants will also be provided with relief in “hardship conditions”.