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Australia’s 2022 budget explained at a glance

And everything else you need to know about tonight’s announcements ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Treasurer Josh Frydenberg has unveiled a cost-of-living budget that also talks tough on defence and cyber security. But does it pull the right policy levers? Our at-a-glance guide gives you the facts and figures you need.

A “cash splash aimed at clawing back votes” is how Michelle Grattan sees the budget. Buoyed by strong commodity prices and the lowest unemployment in 48 years, Frydenberg is bidding to ease Australians’ hip pockets by temporarily slashing the fuel excise and giving a one-off $420 tax break to millions of low- and middle-income earners. If money talks, Grattan says, the government has the megaphone out.

Our business and economy editor Peter Martin says the spending is big, largely responsible, with the exception of the fuel excise. But UNSW economist Richard Holden warns it leaves a $40 billion structural deficit for the next government (whoever that is) to sort out – and he says doing it without a return to austeriry would be a “litmus test of good economic management”.

Stay tuned this week for more analysis of key budget measures in health, energy, climate and more.

Australia's 2022 budget explained at a glance 2

Michael Hopkin

Deputy Chief of Staff

Australia's 2022 budget explained at a glance 3
Australia's 2022 budget explained at a glance 4

A cost-of-living budget: cuts, spends, and everything you need to know at a glance

Michael Hopkin, The Conversation; Wes Mountain, The Conversation; Chynthia Wijaya, The Conversation

Everything you need to know about this year’s federal budget in 5 easy-to-read charts.

Australia's 2022 budget explained at a glance 5

Josh Frydenberg’s budget is an extraordinary turnaround – but leaves a $40 billion problem

Richard Holden, UNSW Sydney

The 2022-23 budget is the result of a good plan, well executed. But whichever party next takes government must close the deficit gap – without resorting to austerity.

Australia's 2022 budget explained at a glance 6

Budget 2022: Frydenberg has spent big – but on the whole, responsibly

Peter Martin, Crawford School of Public Policy, Australian National University

The budget forecasts and unemployment numbers show Josh Frydenberg’s COVID support spending has paid dividends.

Australia's 2022 budget explained at a glance 7

View from The Hill: if money talks, the government has the megaphone out

Michelle Grattan, University of Canberra

This is a budget for the instant – unashamedly an election bribe, and unconcerned when that involves pursuing some poor policy.

Australia's 2022 budget explained at a glance 8

Cheaper petrol, cash handouts in Morrison government’s vote-buying budget

Michelle Grattan, University of Canberra

Weeks out from a possible election, the federal government has delivered a voter-friendly budget filled with giveaways

 

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