Australians are being promised a “substantial” improvement to the budget’s bottom line in the coming financial year. 

Treasurer Josh Frydenberg is delivering a speech today, where he’ll outline the foundations of his plan to repair the economy.

His mid-year economic update forecast a $99 billion deficit this year.

But Mr Frydenberg told Neil Breen he expects that to reduce.

“Our focus in the past, and again in this budget, will be on low- and middle-income earners who have been under pressure,” he said.

“But these measures … are designed to be very targeted.

“The time for economy-wide, large economic stimulus is over.”

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