Treasurer JoshFrydenberg has likened the financial impact of the coronavirus to an “economic meteor” during his post-budget address before the National Press Club.
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Treasurer Josh Frydenberg has likened the financial impact of the coronavirus to an “economic meteor” during his post-budget address before the National Press Club. It comes after Mr Frydenberg handed down his government’s budget on Tuesday night with a sharp focus on lowering the unemployment rate by creating 250,000 new jobs. Treasury revealed a post-coronavirus jobs boom will wipe $53 billion from the forecasted budget deficit, lowering the predicted deficit to $161 billion.
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Australia’s economic recovery leading ‘the pack’ of global advanced economies | Sky News AustraliaTreasurer Josh Frydenberg has touted Australia’s world-leading economy recovery at his post-budget address before the National Press Club.\n\n“Australia is well on the road to recovery,” he said.\n\n“In response to the greatest economic shock since the Great Depression, we have now put in place an unprecedented $291 billion of direct economic support. \n\n“Extraordinary times have called for extraordinary measures.”\n\n'As John Howard said to me on the eve of the announcement of JobKeeper, ‘During times of economic crisis, there are no ideological constraints’.”\n\nThe Treasurer pointed out Australia had outperformed every major advanced economy in the world over the last 12 months.\n\n“The results are now clear. Our economy is coming back strongly”.\n\n“Australia's recovery is at the front of the pack.\n\n“Consumer confidence is at an 11-year high. Business confidence is at a record high. And almost 1 million jobs have been added since the peak of the crisis.” \n
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Australia has moved into the ‘recovery phase’ of COVID-19 pandemic: PM | Sky News AustraliaPrime Minister Scott Morrison says Australia is “moving beyond emergency responses” to the pandemic and has begun the recovery phase.\n\nThe prime minister said the upcoming budget will show how the government was “protecting Australia” against the COVID-19 pandemic.\n\n“How we create jobs, how we guarantee the essential services that Australians rely on, whether it be in aged care or mental health, the National Disability Insurance Scheme,” Mr Morrison said.\n\n“It's against that pandemic background that tonight's budget is framed. We will continue to take responsible action to save lives and to save livelihoods.\n\n“While moving beyond emergency responses as we have been doing for these last 18 months, we move into the recovery phase and continue to provide the support that both Australians need, to protect their lives, and to protect their livelihoods.”\n
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The Liberal Party ‘has not’ given up on surpluses: Frydenberg | Sky News AustraliaTreasurer Josh Frydenberg has told Sky News Australia is “recovering very strongly” following his budget address.\n\nMr Frydenberg delivered the budget on Tuesday night, and says it was “all about securing Australia’s economic recovery”.\n\n“Around half-a-million jobs have been created since last year’s budget – which was just over six months ago,” he said.\n\n“Australia has been the outperformer when it comes to the rest of the world on both the health and the economic front.”\n\nMr Frydenberg told Sky News the Liberal Party had not given up on surpluses despite revealing in the federal budget Australia’s net debt would increase to $617.5 billion and the deficit would hit $161 billion this year.\n\n“What you see in this budget is that deficits come down by two-thirds over the forward estimates,” he said.\n\n“And that net debt to the size of the economy, to GDP, compared to what was forecast at last year’s budget is lower each and every year.\n\n“That’s a key indicator of fiscal sustainability.”\n\n
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Pandemic recovery in full swing with big spending budget | Sky News AustraliaThe economy is roaring back to life but deficits look certain to remain as far as the eye can see as Treasurer Josh Frydenberg hands down his second, big-spending pandemic budget.\n\nThe government announced billions in tax cuts, funding for child care, aged care and defence - throwing off the shackles of austerity - and going all out to create jobs.\n\n
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COVID-positive case flew to Australia from India via Maldives and Singapore | Sky News AustraliaThe man who has tested positive for COVID-19 in Melbourne after leaving hotel quarantine in Adelaide departed India via the Maldives and Singapore before entering Australia.\n\nThe man tested positive twice for COVID-19 on Tuesday after developing symptoms on May 8.\n\nVictorian Health Minister confirmed the man spent 14-days in mandatory hotel quarantine before returning to Melbourne on May 4 where he was likely infectious from May 6.\n\nMr Foley said the man flew from India before travelling through the Maldives and Singapore.\n\nVictorian Chief Health Officer Professor Brett Sutton said the man had not broken the India border ban as he arrived in South Australia in mid-April.\n\nProfessor Sutton said the flight from Singapore was “expected and routine”.\n
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Australia's ‘challenge’ going forward is preparing to reopen international borders | Sky News AustraliaAustralian Medical Association President Dr Omar Khorshid says the “biggest challenge” for Australia going forward is getting the health system and the country ready for the reopening of international borders. \n\n“I think the biggest challenge going forward is how we get Australia ready for opening our borders,” he said. \n\n“And that’s remembering we have a public hospital system right now that is bursting at the seams, it is overrun with really sick Australians who can’t get in the front door, they’re ramped in ambulances outside hospitals.\n\n“This is in the setting of no flu, we have record low numbers of flu patients, there’s no COVID.\n\n“Once we open those borders both those viruses will be coming into Australia and even with a vaccinated population, we have to be ready. \n\n“And that’s certainly going to be the AMA’s focus on advocacy with the government following this budget”. \n\nDr Khorshid told Sky News the AMA would also like to see some “specific funding” for Commonwealth-run quarantine facilities to help put an end to the “disruptive” outbreaks which occur every few weeks.
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