Responsible Budget but tough decisions yet to come say commentators at Launceston Budget Breakfast.

The Newton & Henry Federal Budget Breakfast was held on Wednesday, October 26, at Peppers Silo Hotel with over 80 representatives from Launceston’s business community eager to discover more about Labor’s first budget in 12 years.

Bringing together experts from industry and government, the Newton & Henry Federal Budget Breakfast presents the Federal Budget from a Tasmanian perspective.

“The Budget Breakfast has provided insight into what the budget means for Tasmanian businesses and households for over 25 years from people that understand the budget and understand what makes Tasmania tick. Newton & Henry is very proud to continue its association with such an important event” said Michael Hine, Partner at Newton & Henry and speaker at this year’s event. 

Guest speakers provided their perspective on a budget that was pitched by the government as a “responsible budget that is right for the times and readies Australia for the future”.

Federal Member for Lyons, Brian Mitchell MP, who spoke at the event said “The overall fiscal strategy puts a premium on restraint and provides a buffer for further downturns whilst not adding to inflation”.

Mr Mitchell went on to detail how Labor’s five-point plan encompassing initiatives around childcare, paid parental leave, housing affordability, pharmaceutical subsidies and support for wages growth would result in “responsible cost of living relief”.

Fellow guest speaker Warren Hogan, Chief Economic Advisor to Judo Bank, gave the budget an “eight out of ten” for taking pressure off the economy in the short-term but argued the budget was “more of an economic statement rather than a budget”. 

“This is step-one in a two-step process of the government putting out its’ fiscal strategy. The real action is ahead of us” he said.

Newton & Henry Tax Partner Michael Hine agrees “there is a much larger tax conversation that will have to be had if we are going to correct the budget structural deficit in the future” he said.

To view photos and videos from the event visit www.newtonhenry.com.au/articles/federal-breakfast-oct-2022