Global credit rating agency Standard & Poor’s (S&P) has said that the federal budget to be passed down to the incoming Labor government is in better condition than previously forecast.
In addition, it said that Australia’s AAA rating and its stable outlook would remain unchanged despite the new government taking office.
This comes after Prime Minister Anthony Albanese, Treasurer Jim Chalmers, and Finance Minister Katy Gallagher were sworn in on May 23 following Labor’s victory at the federal election.
S&P also said that the new government had pledged to make investments in a wide range of sectors, including energy, manufacturing, housing, childcare, health, and education….