Budget deficit less than half of last year

Breakdown

• Households are saving more as the Reserve Bank is expected to keep interest rates unchanged.
• Major banks do not anticipate a rate cut, and inflation remains a concern. 10s
• The Home Guarantee Scheme launches, allowing first home buyers to enter the market with a 5% deposit. 29s
• The federal budget deficit has improved by $17 billion, now standing at $10 billion. 57s
• The government reports a reduction in national debt by $188 billion since taking office. 1m 36s