Budget 2022: By the numbers

cash money fairness wage growth budget inflation

Source: Unsplash.

The 2022-23 expected deficit: $78 billion.

Deficit as a percentage of GDP: 3.4%.

Three-year forecast of deficit as a percentage of GDP: 1.6%.

Unemployment rate: 4%.

Australia’s employment rate increase relative to pre-pandemic levels: 3.1%.

United Kingdom’s employment rate increase relative to pre-pandemic levels: -1.3%.

The last time the Australian unemployment rate was lower than at present: 1974.

Total support for flood-affected communities: more than $6 billion.

Inflation rate forecast for 2021-22: 4.25%.

Inflation rate forecast for 2022-23: 3%.

Inflation rate forecast for 2023-24: 2.75%.

Saving per litre owing to the halving of the fuel excise: 22c a litre.

One-off cost of living tax offset for lower- and middle-income earners: $420.

Number of Australians who will receive the tax offset: more than 10 million.

One-off cost of living payment for pensioners, carers, veterans, job seekers and concession card holders: $250.

Number of Australians who will receive the cost-of-living payment: 6 million.

Forecasted increase in the Wage Price Index from June 2021 to June 2022: 2.75%.

Forecasted increase in the Wage Price Index from June 2022 to June 2023: 3.25%.

Defence spending across the next decade: $575 billion.

Spending for Australia’s intelligence and cyber capabilities: $9.9 billion.

Defence spending as a percentage of Australia’s economy: more than 2%.

Mental health investment in the 2022-23 budget: $547 million.

Mental health and suicide prevention investment in the 2021-22 budget: $2.3 billion.

Total number of new drugs listed on the PBS by the Coalition government: 2800.

Aged care spending in the 2022-23 budget: $29.8 billion.

Aged care spending in the 2012-13 budget: $13.3 billion.

Investment to end violence against women and children: $1.3 billion.

How often Australian women are killed by their current or former partner: one every 11 days.

This article was first published by Crikey.

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