Treasurer Josh Frydenberg will unveil the federal budget later today, with billions of dollars expected to be spent on getting people back to work more than a year into the pandemic. Follow live.
As you've probably heard throughout the day, Treasurer Josh Frydenberg is expected to hand down a big-spending budget, with billions set aside for infrastructure, skills, childcare and aged care.
As the ABC's business editor Ian Verrender reports, there are two reasons: one is related to good management, the other to sheer good luck. Last year, Treasurer Josh Frydenberg was banking on $55 a tonne for iron ore. It was always a conservative estimate and the government long has operated on the maxim that it's best to under-promise and over-deliver. But no-one would have been brave enough to predict this.
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