Morgan Stanley analysts weigh 2024 Australian budget impact
) Australia have recently evaluated the impact of the FY25 Australian Federal Budget on the country's equity market. The budget, they say, is a mixed bag, providing some protection against downside risks but complicating the potential for significant cyclical upside., address consumption risks through cost-of-living support and lay the groundwork for future investment pathways.
The tax cuts already legislated are substantial but require time to influence observable spending habits. Similarly, subsidies, designed to offset future expenses, will help alleviate the pressure of inflation but offer limited stimulus. For businesses experiencing a broader tightening in conditions, the July 1st stimulus and its associated lags may seem a long way off.
Finally, the housing supply, necessary to address the lack of volume in housing construction and rents, is unlikely to rebound within a market-relevant time-frame based on the announced policy.
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