Budget 2022 – what’s in it for business?

The Federal Government’s 2022 Budget contained plenty of handouts thanks to the coming election and a strengthening economy after COVID. But though the situation for businesses is improving, there are warning signs ahead, according to Neville Norman, Professor of Economics at  Melbourne University. Professor Norman says many small businesses with variable loans — most particularly those with loans tied to their mortgages — will experience cashflow issues due to interest rate hikes. And he says there is likely to be a “steady as she goes” approach to the national economy should the ALP come to power at next month’s election.