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Budget will be based on assumption Australia will have COVID-19 vaccine: Treasurer

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EXCLUSIVE: Sky News can reveal Tuesday’s budget forecast will be based on the assumption a coronavirus vaccine will be discovered by next year.

In an exclusive interview with Sky News Political Editor Andrew Clennell to be aired on Monday, Treasurer Josh Frydenberg confirmed the budget will “take into account” the possibility that Australia will have a COVID-19 vaccine next year.

“We have factored in those issues related to the vaccine,” the treasurer said.

When asked whether the budget will be predicated on the assumption that a vaccine will be secured and readily available, Treasurer Josh Frydenberg said “the budget takes into account the possibility that is the case”.

It comes as Andrew Clennell confirmed the budget will include a extension of the low-to-middle income tax offset which aims to put more cash in the hands of Australians and therefore back into the economy.

The budget will reportedly also flag the end of JobKeeper with a replacement subsidy for businesses who hire new employees, according to Mr Clennell.

The full interview with Treasurer Josh Frydenberg and Sky News Political Editor Andrew Clennell will be broadcast at 2pm Monday on Sky News Australia.

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