This year’s Budget is a solid attempt to bolster key sectors of the economy, namely households and business. Support for business via the instant asset write off and personal income tax cuts lend the Budget a conservative flavour, as do the temporary nature of most new budget measures. Despite the outlook for another decade of deficits and a rise in the debt to GDP ratio, it is hard to argue with the government’s two stage fiscal strategy – economic recovery first, followed by budget repair. No Treasurer has ever delivered a Budget that pleases everyone. But in my view, Budget 2021 should keep the majority of stakeholders happy, and should be well received by financial markets.