Federal Budget 2020 reveals Australia headed to record debt of almost $1 trillion

Billions of dollars in fast-tracked tax cuts and younger worker wage subsidies underline the Federal Government’s budget recovery pitch, as Australia’s recession sends debt and deficits to record levels.

Treasurer Josh Frydenberg’s coronavirus-delayed Budget includes $50 billion to bring forward tax cuts and $4 billion in subsidies for businesses to hire unemployed workers aged between 16 and 35.

The focus of the Budget is getting those who lost their jobs

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