This year's unexpected budget could play an important role in the upcoming federal election - now expected in May.
The Albanese government has said there's going to be another round of 'meaningful and substantial' cost-of-living measures in the budget, but Barrenjoey's chief economist, Jo Masters says she suspects the major announcements have already been made, and any other announcements would be small cost-of-living relief.
With global uncertainty part of the reason the OECD downgraded its forecast for global growth, Jo Masters says businesses, governments and economists alike are trying to navigate the uncertainty brought on by President Donald Trump, including tariffs and a potential trade war with China.
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