BUDGET 2021

Budget 2021: Winners and losers as the government looks to protect Australia from the COVID-19 fallout

Some groups will do better than others this year.

Treasurer Josh Frydenberg is handing down this third federal budget. Picture: Sitthixay Ditthavong

Treasurer Josh Frydenberg is handing down this third federal budget. Picture: Sitthixay Ditthavong

WINNERS

Small businesses

  • The government is extending its loan scheme for small businesses.

Older Australians

  • Increased aged care spending will grow the number of home care packages by 80,000.

Parents

  • The budget includes $1.7 billion for childcare, and the government will provide $1.6 billion for preschools.

Industry

  • Gas infrastructure projects, oil refining and energy projects all receive government support.

LOSERS

Stranded Australians

  • There's money for increased consular services helping vulnerable Australians overseas, but no funding to expand quarantine outside the Northern Territory.

Universities

  • Despite small-phased programs for international students, the budget predicts the rate of arrivals will face constraints in the first half of 2022.

Younger Australians

  • The number of young people looking for full-time work and who have been unemployed for more than a year grew by 54 per cent between March 2020 and 2021.

Tourism operators

  • Tourism businesses will receive targeted support, but economists expect inbound international travel to remain low through to mid-2022.

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This story The winners and losers in this year's budget first appeared on The Canberra Times.