The team at Required can help you take the right steps towards the financial future you want.
Established in 1991, Required Financial Services provides a comprehensive range of personal and business services. Our team has extensive experience in many aspects of wealth management, lending and risk insurance. This means we are well placed to provide our clients with comprehensive financial services and solutions.
• Share markets rose on balance in February which belied a tough
week to end the month following sharp rises in bond yields.
• Vaccine rollout continued to be a major focus with heightened
anticipation of US government stimulus also a highlight.
• Both were factors helping drive a selloff in bonds as investors
sought out assets that would benefit from the expected global
economic recovery this year.
• The Global Composite PMI (a useful leading indicator of global
economic growth rose to a four-month high led by the USA.
Since December 2020, the world
has embarked upon a mass effort
to vaccinate against the Coronavirus
pandemic. The leading solutions have
been produced by joint ventures led
by Pfizer, Moderna and AstraZeneca
respectively. Israel and the UAE are
amongst the leaders on a per-person
basis with Israel reportedly beginning
to see a decline in severity and mortality
rates amongst its elderly citizens.
Australia is employing a mix of both
the Pfizer and AstraZeneca vaccine,
with priority going to frontline staff and
vulnerable groups such as the elderly.
The vaccine rollout will reduce the risk of
further lockdowns and allow the world to
get closer to a “pre-Coronavirus” state.
> The Budget is forecast to result in a record deficit peaking at $966 billion (44% of GDP) in 2024. However, thanks to record low interest rates, this comes with only a minimal increase in interest payments.
> Jobs are the Government’s primary focus — creating jobs and keeping jobs, with the introduction of the JobMaker plan (including a $100-$200 per week hiring credit for eligible employees/employers and reimbursement of up to 50% of an apprentice’s training) and the JobTrainer fund.
> Tax cuts will play a major role and, unlike other economic downturns, there will be no deficits tax on high income earners. Stage 2 personal income tax cuts are to be brought forward 2 years, backdated to 1 July 2020, with tax savings for around 7 million Australians of $2,000 or more.