Treasurer Josh Frydenberg joined Brooke Corte following the 2020 Federal Budget announcement to expand on the measures.

Mr Frydenberg pointed to the business loss carry back and stage two tax cuts as “measures designed to boost the long-term productive capacity of the nation”.

He argued that as restrictions ease, Australians will once again be able to spend the extra money in their pockets, forecasting an increase in consumption of 7 per cent.

Brooke noted that self-funded retirees – absent from mention in the 2020 Federal Budget – have been left feeling like the “forgotten people”.

“Self-funded retirees benefit from a stronger economy,” the Treasurer responded.

“They didn’t get Labor’s retirees tax, and I think that’s a pretty significant development as well.”

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