In this issue:
- June 30: Get your (financial) house in order
- An insurance lifeline when you need it most
- Escape the winter blues – without breaking the bank
As the days get shorter and we settle into the cooler months, the political heat is subsiding after the Federal Budget. The Budget provided an annual snapshot of the state of Australia’s economy: Treasurer Scott Morrison forecast a budget deficit of $37.6 billion this financial year, dropping to a deficit of $29.4 billion in 2017-18.
While stopping short of guaranteeing a return to surplus, the Treasurer projects the budget will be back in the black by 2020-21. The improving budget bottom line is predicated on an expected rebound in economic growth from 1.75 per cent this year to 2.75 per cent next year and 3 per cent beyond that, as the local and global economies pick up steam.
The government pledged to focus on good debt for productive purposes, with projects such as its $75 billion infrastructure program. While reining in recurrent spending, net debt is expected to peak next year at 19.8 per cent of GDP, falling to 17.6 per cent in 2020-21.
Inflation is expected to remain at the lower end of the Reserve Bank’s 2-3 per cent target band, due to a soft jobs market and low wages growth.
In Europe eyes will look towards the UK general election held on June 8, while in the US domestic demand is firming up, strengthening the case for the Federal Reserve to raise rates again.
Time is running out to get your financial house in order before June 30. This is especially the case for anyone who has funds available to make a large cash injection into their superannuation retirement savings before the rules change…Read more
Trauma insurance is the middle child of the personal insurance family. It’s overshadowed by its better-known siblings but it’s a quiet achiever that will do the heavy lifting when the circumstances require it…Read more
Have you been feeling a bit sluggish as the winter weather sets in? Are you craving richer meals, sleeping in a bit more, and generally feeling a bit flat? There could be a scientific explanation. Seasonal Affective Disorder (SAD), otherwise known as the winter blues, is a real condition. It’s more common than you might think in this country as it’s estimated that up to 54% have some of the symptoms…Read more