Treasurer Josh Frydenberg has just delivered the most important Federal Budget since WWII, outlining Australia's road to recovery post-COVID.

Under our plan, the economy is forecast to grow by 4.25% next calendar year and unemployment is expected to fall to 6.5% by the June quarter 2022.

We will do this by:

Supporting nearly half a million young Australians with a new JobMaker hiring credit;
Investing a record amount in skills and training to make sure Australians have the skills they need to get a job;
Incentivising business to invest in their business, creating more economic activity and more jobs;
Providing tax relief for more than 11 million hard working Australians, to put more money in their pockets to spend in small businesses across the country and help create jobs.

As Industry Minister I am committed to growing our sovereign capabilities by backing Australian manufacturing, as well as the science and research that underpins it.

$1.5 billion over four years for the Modern Manufacturing Strategy
An additional $459.2 million in funding for the CSIRO over four years - to address the impacts of COVID-19 on its commercial activities
$29.7 million to help Australian businesses better use digital tools to readjust their operations
$35.9 million to expand the Boosting Female Founders Initiative

There are many other important business assistance measures in tonight's Budget - to keep more businesses in business and people in jobs. You can find more information here.

This budget is all about jobs, which is so important for the Gold Coast, because our city has been one of the hardest hit by the pandemic.

Vital infrastructure funding will not only get Gold Coasters home sooner and safer, but create much needed jobs.

$750m in new funding for construction to begin on Stage 1 of the Coomera Connector by mid-2021 - supporting 700 direct jobs.
$2m is being invested to upgrade the busy intersection of Currumbin Creek Rd and Bienvenue Dr in Currumbin Waters - supporting 16 direct jobs.

The Gold Coast's tourism sector has faced the dual blows of COVID-19 and Queensland's stubborn approach to border closures. That's why $10m from our $50m tourism fund will be invested into the Gold Coast - to lure more domestic visitors by adapting products, experiences and marketing campaigns.

If you missed the Treasurer's speech tonight - you can read it here.

I look forward to discussing the many benefits of the Budget with local residents and business owners over the coming weeks.

Kind regards,