ASX to slump, Treasurer reveals budget focus
The Australian share market is expected to be off to a slow start this morning despite a strong result on Wall Street on Friday.
Wall Street: The Dow, Nasdaq and the S&P 500 were all in the green at the close of the day at the end of last week, pushed up by tech stocks and hopes of US President Donald Trump signing yet another US coronavirus stimulus bill.
Treasurer Josh Frydenberg has revealed the focus of his pushed-back October 2020-21 budget: jobs.
Responding to calls for widespread reform, Frydenberg said they had already been made.
"Reforms are recurring all the time ... whether it's on tax, whether it's on superannuation, whether its on skills, whether its on infrastructure, we are undertaking significant reform," Mr Frydenberg told Sky News' Sunday Agenda program.
"The budget will continue to have more reforms but obviously what we are focusing on is getting people back to work." More on what he said here.
Speaking of jobs, which ones are the highest-paying for women? Financy’s Bianca Hartge-Hazelman breaks down the most lucrative jobs and how much they pay.
Will Victoria be back open for business in two weeks? Two weeks out of when the strict stage four restrictions are due to be rolled back, Victorian Premier Daniel Andrews will make announcements around how businesses can reopen.
Frydenberg’s got antsy feet about it. He’s taken aim at Daniels and said the Victorian economy is “devastating” the broader national economy.
The Medicare levy should be raised. That’s the view of the Health Services Union, which reckons raising the levy from 2 per cent to 2.65 per cent could create a “five star” aged care system in just four years. Residents would get 89 extra minutes of care and it would also create 59,000 jobs. More on that here.
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