ACT budget 2020-21: Everything you need to know in five minutes

Much of what was in the budget has already been announced, but here's a quick guide of what you need to know.

The ACT government has presented an optimistic outlook for the territory in the budget.

The forecast deficit has improved since Treasurer Andrew Barr handed down his last update in August.

The forecast deficit for this financial year is expected to be $603 million, about $306 million lower than the August estimate.

Debt is expected to grow to $4.7 billion in 2020-21, before swelling to $7.7 billion in 2023-24.

The forecast is based on a successful vaccine rollout, no large-scale outbreaks and a progressive reopening of international borders.

In a normal budget, the concerns for most people would be what are the increases to fines, car parking or car registration. But in this budget, most of those fees have been frozen as part of the COVID-19 economic response.

This was previously announced when the pandemic hit.

Rates for 2020-21 were already announced back in June. There were 60,000 households that received a rates increase this financial year.

The government will spend $300 million on initiatives aimed at tackling climate change.

This includes a $150 million fund for interest-free loans for Canberrans, up to $15,000 a household, who get solar panels, or household battery storage.

$100 million, over the next five years, has been pledged to deliver big battery storage to Canberra's electricity grid.

All the announcements were a centrepiece of Labor's re-election campaign last year.

Families in Gungahlin are set to benefit from a big boost to schools in the region.

The government will spend $27.4 million on new schools and expansions in the region.

Of that, $24.4 million will go towards the construction of a new higerh school in Kenny, $2 million will go towards design work for a new high school in Taylor and $1 million will be given to the expansion of Margaret Hendry School.

Payroll tax exemptions and waivers for territory businesses will be extended.

Commercial rates relief for landlords who drop rents for tenants affected by COVID-19 will be extended until the end of January, while food registration and liquor licensing fees will be cut for an extra year.

The ACT government will also deliver a second round of the Choose CBR voucher program, which was introduced last year to encourage to people in the ACT to buy from local businesses.

No new significant infrastructure projects were announced in the budget. The government has instead focused on delivering its planned Woden CIT Campus, the Canberra Hospital Expansion and the extension of the light rail network from Civic to Woden.

The ACT government has set aside funding for the COVID-19 vaccine rollout.

The territory government has allocated $8.2 million to rollout the vaccines this financial year, in addition to $4.5 million of capital.

That funding is set to increase to $10.8 million during 2021-22.