Discover and read the best of Twitter Threads about #budget2020

@PIBMumbai

Finance Minister @nsitharaman will address a press conference on economic issues, at 12.30 PM today, at National Media Centre, @PIB_India HQ, New Delhi

Watch:

Catch LIVE updates in English and Marathi, from @PIBMumbai

LIVE shortly: Press conference by Finance Minister @nsitharaman

LIVE now: Press conference on economic issues, by Finance Minister @nsitharaman

Some proposals to stimulate demand in the economy are being presented

Read 26 tweets

Emma Alberici

@albericie

On #Insiders @David_Speers makes the searing observation to @JoshFrydenberg that now is exactly the worst time to be taking $14m away from National Audit Office. When government is spending eye-wateringly enormous amounts of money "isn't that when we need more scrutiny not less?"

Worth noting too: ATO’s workforce 18% smaller than in 2014. 18,104 staff many now working from home suddenly have responsibility for Jobkeeper (on top of everything else they were doing) ie. 900,000 businesses. How many audits can they actually do to check it's not being rorted?

Was this a gender blind budget? That is, does it deliver equally for guys & gals? @swrighteconomy says government is counting on a "blokey recovery"

The evidence is pretty clear:

92% of new apprenticeships will go to men
8% of new apprenticeships will go to women

#Insiders

Read 9 tweets

Senator Jordon Steele-John 🌏🔥

@Jordonsteele

Last night’s #budget2020 did not include a single cent of funding towards the establishment of a Federal anti-corruption commission, despite the Morrison government promising to establish one since December 2018 #AusPol

Just over a year ago the #Greens Federal ICAC passed the @AuSenate with only the Morrison government voting against it. If there was any desire to establish a Federal #ICAC from the Morrison government they would have brought our bill on for a vote, but they still haven’t #AusPol

In February of this year, the @AuSenate again voted to compekl the Morrison government to bring on our #ICAC bill for a vote in the House of Reps. Again, nothing happened #AusPol

Read 8 tweets

Sustain Australia

@sustainaus

We are calling for a $500m national #EdibleGardening fund as a necessary and urgent investment in public and community #health to be co-financed by Federal, State and Territory governments.

We’re in a national emergency, and we must respond accordingly. #urbanagriculture

Dietary-related ill-health and mental illness cost Australia around $200 bn every year.

With COVID-19 and the climate emergency, these costs will rise and more will experience #hunger and #foodinsecurity. In a country as wealthy as #Australia, there is no excuse for this.

The levels of food poverty and dietary-related ill-health amongst #FirstNations communities are a matter of national shame.

Edible gardening has immense power to do good, as our national #PandemicGardening survey showed.

#COVID19Aus

Read 6 tweets

Rebekah Holt

@rebekahhlt

(1/10) Any entry level democracy in recession would dial down their expensive addiction to pricey island detention centres. But not Australia. (thread) #auspol

(2/10) As PM wouldn't you just cut up Peter Dutton's credit card and say no? "You can't have the full 'My lil Azkaban' set because we need groceries". But no. Not Australia. And apparently not Scott Morrison.

(3/10) Last night's #Budget2020 includes a spend of another $55m on Christmas Island. Over $180m has already been spent on that centre in the last year, but the largesse has not incl giving the #hometobilo kids their own beds. A family of 4 have had to share a bed for 13 months.

Read 10 tweets

Ben Eltham

@beneltham

This is a deeply ideological budget. It rewards the Morrison government's friends, and punishes perceived enemies. #Budget2020

Tens of billions will be given to big business, and to high-income earners. Wealthy men will get the bulk of the benefit. The poor, the unemployed, women, and those working in sectors the government doesn’t ideologically favour will get little.

The centrepiece of the budget is a massive give-away to business. The Morrison government has rewarded its backers in the private sector with huge subsidies, in the form of asset write-offs and tax “carry-backs” (in other words, government hand-outs).

Read 11 tweets

Adam Bandt

@AdamBandt

Josh Frydenberg has just stood up to spruik his post-COVID budget.

Spoilers: it will prolong the recession, fuel the climate crisis, and leave young people behind.

Wondering what this trickle-down disaster means for you?

A #Budget2020 thread

To save you the wait:

❌JobSeeker is slashed.

❌Millionaires get tax cuts.

❌Young people get insecure work.

❌Gas donors get cash that should be going to schools and hospitals.

#Budget2020

JobMaker is a recipe for temporary, casual, low wage exploitative work.

Big corporations like McDonalds will be rubbing their hands together.

Instead, we need a job guarantee for young people, with decent wages and secure work.

#Budget2020

Read 16 tweets

Paul Karp

@Paul_Karp

THREAD on income tax cuts - the govt will trumpet the green column which gives a rolled up figure, but what's really going on is the yellow column is a one-off boost in 2020-21, and pink is the permanent increase.
#auspol #Budget2021

Notice something? Green makes it look like everyone is about $2K better off. Yellow reveals middle income earners are getting a ONE-OFF boost in 2020-21; and PINK shows the RICH are getting the biggest cuts.
#auspol #Budget2021

Why does this happen? Because for people earning $48K-90K the threshold changes only compensates for loss of low to middle income tax offset. So the middle are only ahead in 2020-21 because in that year they get BOTH.

Read 10 tweets

Stilgherrian

@stilgherrian

BUDGET 2020: This is the start of my thread looking at Australia’s federal Budget, delayed from its usual deliver in May because of the ’flu or something. This is a very narrow look, so first some background. #Budget2020

If you don’t know who I am and what I usually write about then check out stilgherrian.com and authory.com/Stilgherrian respectively. I’m mostly be staying in my lane because there will be plenty of other people doing the headlines. #Budget2020

The official Budget documents will appear at budget.gov.au at 7.30pm AEDT, and there will be links out to each department’s detailed number. There’s a lot of detail, so here’s how to approach it... #Budget2020

Read 70 tweets

Capital Stake

@CapitalStake

The @GOPunjabPK recently announced Provincial Budget with total estimate of revenues as Rs 2,240.63bn & expenditure as Rs2115.63bn. A thread on major highlights of the budget.
A total of Rs 336.5bn was allocated for School Education Department.
#Pakistan #economy #Punjab

The Health Care Department was allocated Rs 134 bn by the #Punjab Government.

#Pakistan #Budget2021 #PunjabBudget2020 #CoronaBudget

Irrigation Department received 45bn out of the total #Budget .

#Pakistan #Budget2021 #economy #PunjabBudget2020

Read 7 tweets

Tribune Business

@TribuneBiz

#PTI govt unveils corona-influenced #budget
Follow our live updates here: newslab.tribune.com.pk/budget-2020-21/

HAPPENING NOW: When we assumed leadership, current account deficit was Rs20b, circular debt was Rs1200b, rupee was kept inflated and SBP reserves fell from Rs18b to below Rs10b," says Federal Minister of Industries & Production Hammad Azhar while presenting #Budget2021

No measures had been taken to combat money laundering, says Azhar. "We took key decisions to stabilise the economy and we saw improvement in key indicators."
Current account deficit was brought down, trade deficit contracted 21 per cent, he adds while presenting #Budget2021

Read 13 tweets

Prasar Bharati News Services

@PBNS_India

Watch Live: Union Finance Minister @nsitharaman addressing a Press Conference.

#AtmaNirbharBharat twitter.com/i/broadcasts/1…

@nsitharaman After PM's address to the nation on building an #AatmaNirbharBharat, we have been announcing details of the stimulus Govt. feels it should provide to the economy and our people.
- FM @nsitharaman
#AatmaNirbharEconomy

@nsitharaman PM had said that we should prepare for tough competition. When we speak of #AatmaNirbharBharat, we are not looking inwards, it is not isolationist policy, it is making India rely on its strengths, ready to face global challenges
- FM @nsitharaman
#AatmaNirbharEconomy

Read 53 tweets

Speaker of the House of Representatives

@SpeakerGbaja

Today, @HouseNGR Speaker, Rep. @femigbaja, @NGRSenate President @DrAhmadLawan & the Leadership of the National Assembly met with the Minister of Finance, Budget & National Planning to be briefed on the plan to amend the N10.59 trillion 2020 budget passed by in December last year.

In his remarks, the Speaker called on the Federal Government to adopt a feasible benchmark in the proposed amendment to #Budget2020.
“The benchmark is so critical, once you passed the law, it becomes difficult to adjust that benchmark, and then what happens to the excess?”

“We’ve always had problems with the ECA, potentially an account which has no backing of the law. So, let’s even assume that price remains static at $35, it means $10 is going to the ECA which we have no control over in terms of spending, it’s why we guard that benchmark jealously

Read 11 tweets

Carrie Stoddart-Smith

@Ellipsister

Wowser that was a day. Early morning analysis on big kaupapa and regular check ins, completed a comprehensive concept brief, hui for a new project, hui to restyle my biz logo, completed my accounting tasks, made/responded to enquiries around next steps for Opinio Native. Im ded.

aargh thought the day was over, but just realised I was meant to read the BPS in preemption of tomorrow. #Budget2020

Well, actually not much to read there:

Priority area:
Maori and Pacific - Lifting Maori and Pacific incomes, skills and opportunities

Predictable and also that framing has to change.

Read 3 tweets

Greenpeace NZ

@GreenpeaceNZ

THREAD: Tomorrow's #RebuildingTogether Budget will be a defining moment for New Zealand, and for Jacinda Ardern's Govt because it will have impacts for generations to come.

#nzpol #budget2020 #GreenCovidResponse #BuildBackBetter #ClimateChange
greenpeace.org/new-zealand/ca…

We're looking for Govt to prioritise future-ready projects over 'shovel-ready' in the Covid recovery Budget. With unprecedented sums on the table, we have a once-in-a-lifetime chance to get a jump on the other existential crises we face.

Jobs are a priority, but they need to be created in the right industries. We need more people working in growth areas like renewable energy, sustainable transport and #regenerativeagriculture, which have a clear future in a post-#Covid19 world.

Read 12 tweets

Chxta

@Chxta

The coronavirus is showing #Nigeria up in a big way.

Government revenues have entered the toilet and are unlikely to come out soon.

So much so that @NigeriaGov wants to seize #COVIDー19 donations and use them to fund #budget2020 bit.ly/2WsoeaR

The move to divert #COVIDー19 donations to #budget2020 is rather shortsighted if you think about it, but here we are, and it is all as a result of government laziness and it shows that all the talk of wanting to diversify the economy is nonsense.

The numbers bear this out, #Nigeria's economy is already diversified.

Oil is 7.32% of GDP.
Agric is 21.2%.
Industry outside oil is 18.5%.
Services are 52%.

I wrote in detail about it in today's @BusinessDayNg bit.ly/3borhoz

Read 17 tweets

Treasury Committee

@CommonsTreasury

Our evidence session with Chancellor of the Exchequer Rishi Sunak on #Budget2020 and #coronavirus is due to start in 30 mins⏰.

Watch it live here: parliamentlive.tv/Event/Index/a9…

https://twitter.com/CommonsTreasury/status/1239959684997660674

We're underway with Rishi Sunak on #Budget2020 and #coronavirus.

Watch it live here: parliamentlive.tv/Event/Index/a9…

.@angelaeagle asks the Chancellor about statutory sick pay, grants and loans in relation to the Government's financial response to #coronavirus.

Watch it live here: parliamentlive.tv/Event/Index/a9…

Read 6 tweets

Ben Sellers

@MrBenSellers

Undoubtedly, #GE2019 was a shock. To an extent, Cummings & co seemed to have found a magic formula (and a slogan). But look how short lived it was. The last couple of days have been a case study of how out of touch the @Conservatives are in reality. Three big signs: (1/5)

1. The idea that you could, as the Government, advise people to avoid pubs etc, whilst pulling the rug from under the owners. The sheer arrogance to think that small business people would be ok with being abandoned & fobbed off with the most woeful #Budget2020 measures. (2/5)

2. Ignoring completely the fact that small businesses are not just one-person operations, as if it was the Apprentice, but collectively the employers of millions. Whole Government response to #Corvid19uk ignored the workers, because to the @Conservatives, they hardly exist. (3/5)

Read 5 tweets

Treasury Committee

@CommonsTreasury

It's our second evidence session on #Budget2020 this morning.

We'll hear from the Office for Budget Responsibility's Robert Chote, Prof. Sir Charlie Bean and Andy King.

📺Watch it live from 9.30am here ➡️ parliamentlive.tv/Event/Index/a1…

We're underway with the Office for Budget Responsibility on #Budget2020.

Chair @MelJStride begins by asking that, given #coronavirus, if there is any merit in using the OBR's latest forecast.

📺Watch it live here ➡️ parliamentlive.tv/Event/Index/a1…

.@angelaeagle asks @OBR_UK about what support the Government should be providing for businesses and individuals during the #coronavirus crisis.

📺Watch it live here ➡️ parliamentlive.tv/Event/Index/a1…

Read 3 tweets

Peter Moor

@pfmoor

Here’s a thread on Northern Ireland’s connectivity.

(And also see my article for @NorthernSlant 👇) /1

https://twitter.com/northernslant/status/1237837112298307585

With much talk of the recent #Flybe collapse and the #BorisBridge what is the future of transport in NI - how can we boost connectivity? /2

Why is connectivity so important?
📍Lack of infrastructure puts businesses and communities at a disadvantage
📍More infrastructure will boost NI in regional, national and global level and attract further financial investment /3

Read 23 tweets

ResolutionFoundation

@resfoundation

Spring Budget 2020 - our overnight analysis is now live on our website. Here's a long thread of the some of the highlights. All 37 charts, and 59 pages of analysis, are available here resolutionfoundation.org/publications/s…

First, the @OBR_UK managed to be both incredibly grim, and unbelievably optimistic in its revised economic outlook. GDP is projected to rise by 7.3% over the forecast period - the second worst OBR forecast on record. And that's before the impact of coronavirus is included...

@OBR_UK Replacing the OBR GDP forecast for this year and next with the @OECD updated forecasts 0.8% growth this year and next would lower annual UK growth over the next five years to just 1.2% - the weakest growth outlook on record (from data going back to 1985)

Read 35 tweets

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