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The 2017 federal budget has delivered little relief for retailers struggling

Other losers Tax-dodgers: The government says it will stamp out hybrid tax abuse by multinational banks and insurance companies that seek to exploit tax differences between jurisdictions.
S&P has had Australia on negative outlook since July and is expected to deliver its verdict on the budget in coming days.
Morrison will pour $5.3 billion into a new company to build and operate a new airport for Western Sydney by 2026.
Here are the winners and losers.
The budget could deliver a much-needed bounce to Turnbull and reset his economic agenda.

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Superannuation for house deposit scheme in Federal Budget 2017 criticised

Federal Budget

But critics say the $30,000 cap is peanuts and doesn’t come close to the amount needed for an average house deposit.
Video Image What does the super deposit scheme mean for you?
“Shorter Scomo: ‘Hey young folk, now it will only take you 200 yrs to save for a house deposit instead of 240 yrs.
“The Budget is a serious attempt at tackling Australia’s housing affordability problems,” chief executive Ken Morrison said.
“If you want to deal with housing affordability, you need to start with negative gearing and capital gains,” shadow finance minister Jim Chalmers said.

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Budget 2017

Share on twitter Sue Mitchell by The 2017 federal budget has delivered little relief for retailers struggling to grow sales as cautious consumers cut back on discretionary spending.
“We expect little movement in share prices for retail following the 2017 budget,” he wrote.
“The federal budget does little to change the weak state of household income growth,” said Mr Woolford.
Assuming households spend the savings, it would boost retail spending by just 0.2 per cent, said Citigroup’s head of research, Craig Woolford. The budget could deliver a much-needed bounce to Turnbull and reset his economic agenda.
Macquarie Equities analysts agreed, saying the budget would do little to cheer consumers grappling with high household debt and low wages growth.

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