Why retail has cautiously embraced the 2023 Federal Budget

How will the federal budget affect the retail industry. Bigstock.
How will the federal budget affect the retail industry. (Source: Bigstock.)
The 2023 Federal Budget appeared to be about striking a balance between combating inflation, while also providing cost of living relief for Australian households and businesses. It comes amid a challenging economic period, with the inflation rate well above the 2-3 per cent band targeted by the Reserve Bank. At the same time, retail sales have receded for two consecutive months – constituting a consumer recession. However, retail associations including the Australian Retailer Association (ARA)

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