The amount you can save on gas, food and other household expenses may be a small percentage of your monthly income, but you’re probably paying for it.
The Federal Government estimates that households will spend about $15 billion in the next two years to cover the costs of the budget.
If you want to save even more, consider getting rid of your cellphone, computer and other personal electronics.
The budget has been released on Friday, with the Government announcing the budget will cut spending by $2.9 billion in 2018-19.
That’s about the same as last year’s budget, which saw spending cut by $4.3 billion.
The budget is also projected to have $1.3 trillion in savings.
A lot of people have been hit by a downturn in the mining sector.
The Government is cutting mining taxes by a third and is encouraging businesses to keep jobs in the country.
The Budget proposes an additional $1 billion over four years for new mines, while a $3.2 billion increase is expected to help fund a new $2 billion pilot project to bring up to 20,000 jobs to Victoria.
“I know you’re struggling, and I’m trying to do everything I can to help,” Premier Daniel Andrews told reporters at a press conference on Friday.
Mr Andrews said the Government had a lot of work to do in terms of infrastructure investment and a big opportunity to get the economy moving again.
In the budget, the Government is promising to deliver $7 billion in infrastructure investment over four, three and two years, along with $1 million in funding for the Community Schools Education Fund.
Other measures include $7.5 billion to build the Port Melbourne rail link, which will help the region reconnect to the wider economy.
It also announces it will invest $100 million in the Commonwealth-owned Goldfields Museum.
Victoria has a $15.7 billion unemployment rate, according to the latest estimates by the Australian Bureau of Statistics.
You can read more about the Budget here.
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