Australia has quietly exceeded expectations yet again
Updated: Nov 30
Even through the despair of Covid-19, Australia has performed exceptionally in the September quarter, with tax receipts recording $16.9bn higher than the forecast at the time of the budget.
The prediction of the extended lockdowns in Melbourne and NSW devastating the budget, plunging Australia into a recession was completely incorrect. In fact, an overall improvement of $7.8bn is expected to be released by the Department of Finance.
Employment grew by 130,000 jobs across all sectors, excluding; retail, accommodation and food services, arts and recreation, construction and education and training. The continued resilience of Australia’s economy proves how strong our economic fundamentals are. Not only this, the high tax receipt values prove strong consumer confidence.
The final deficit for 2020-21 came in at $134.2bn compared to the budget forecast in October 2020 of almost $220bn. Australia as a nation is strong and will only continue to improve. Our vaccination rates are the highest in the world, borders are opening and restrictions are easing. Businesses will begin gaining confidence to re-open and our economy will only improve.
Currently, the total value of Australian childcare real estate is approximately valued at $28 billion, with predictions for it to continue to grow. This sector receives consistent Government support, meaning your investment will remain successful for many years to come.
Time and time again Australia proves itself as the lucky country, You will be so much better off focusing on the fact that Australia is a proven economically stable country, that will continue to grow and succeed. Contact us today for an obligation free consultation.