The half-yearly financial check-up on the Australian economy has showed the economic recovery is taking shape - but COVID uncertainty continues to cast a shadow over the future outlook.
With Christmas approaching, the latest assessment of federal spending is now public and Treasurer Josh Frydenberg says it's good news.
The message he wants to send is that Australia's economic recovery is taking shape.
"Today's budget update further confirms that the Australian economy is rebounding strongly, having outperformed every major advanced economy throughout the COVID pandemic."
Australia's recovery is being measured in festive splurges, with tax cuts the major item.
The deficit is only slightly lower, the government says that’s largely because of increased spending on the National Disability Insurance Scheme and the cost of covid lockdowns.
The federal opposition meanwhile says it's clear there isn't much good news for Australians under this budget Christmas tree.
Labor's treasury spokesman Jim Chalmers says this update doesn't deliver on key issues - and he seized the moment to highlight one of Labor's likely election themes:
"It completely ignores the issues in the economy around stagnant wages and skills shortages and job insecurity, and it does absolutely nothing to crack down on the rorts and waste and mismanagement which has characterised the Coalition's decade in office. If anything this budget actually doubles down on the rorts and waste in the budget.
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