May 2019 - Bongiorno Financial Update

What's in this issue?

• Australian elections tend to result in a period of uncertainty which have seen weak gains on average for shares followed by a bounce once it’s out of the way.

• With Labor promising higher taxes, larger government and more intervention in the economy the May election presents a starker choice than has been the case since the 1970’s & so suggests greater uncertainty than usual.

• Labor’s higher tax and regulation agenda may be a negative for Australian assets, but this could be partly offset in the short term by more targeted fiscal stimulus.

• To return to decent wage gains requires a productivity enhancing reform agenda & much lower unemployment. This election is unlikely to deliver much on the former.

We hope you enjoy this issue.

Kind regards,

ANTOINETTE BONGIORNO 
LL.B. B.Com. CFP DipFP A.S.A. Cert IV. FMB.

Level 2 
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