Sky News host Peter Gleeson says next week Treasurer JoshFrydenberg will deliver up what is likely to be the most important budget since World War Two.
Sky News host Peter Gleeson says next week Treasurer Josh Frydenberg will deliver what is likely to be the most important budget since World War Two. “This is a budget for the ages,” Mr Gleeson said. “It will be a fine balancing act between offering up enough welfare and stimulus to keep the country going, to ensuring we don’t go broke in the meantime,” he said.
Mr Gleeson said the fact Australia has an underlying strong economy during non-pandemic times will “stand us in good stead”. “Next week’s budget gives the Morrison government an opportunity to draw a line in the sand,” he said. “We are seeing businesses wiped out throughout this country and Frydenberg must prepare the ground for a more competitive and safer company environment. “The days of putting obstacles in front of businesses must go.
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Prime Minister Morrison to use pre-budget address 'to start to emphasise recovery' | Sky News AustraliaPrime Minister Scott Morrison will use his pre-budget address on Thursday to 'start to emphasise recovery,' according to The Australian’s Political Editor Dennis Shanahan. \n\nPrime Minister Morrison will deliver a major pre-budget address at the National Press Club on Thursday, ahead of the federal budget which will be revealed on October 6.\n\nMr Shanahan said he thinks the prime minister's speech this week and the budget 'are really the foundations for what he would hope would be (a) five year plan for recovery'. \n\n'And restoration of the economy pre-COVID'. \n\n
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The federal budget reflects a 'new orthodoxy' | Sky News AustraliaThe Australian’s Editor-at-Large Paul Kelly says the government’s revised fiscal strategy “reflects a new orthodoxy”, namely, that a fundamental change in economic policy was necessary to respond to Australia’s recession. \n\nTreasurer Josh Frydenberg on Thursday revealed the government’s budget repair approach will be replaced with ongoing targeted and proportionate spending to drag Australia out of recession. \n\nIn place of the previous fiscal strategy there will now be a two phase approach. \n\nThe first is about boosting confidence and getting Australians back to work. \n\nThe second will happen when Australia’s recovery is in full swing, with Mr Frydenberg making it clear it won’t occur until unemployment is below six per cent.\n\nMr Kelly wrote in the Australian on Saturday “this is a transformation of the liberal Party – for a defined period – into advocates of big and interventionist government pending the return of normality.”\n\nThe federal budget is set to be revealed on October 6. \n\nMr Kelly told Sky News host Peta Credlin the budget reflects the views of the Treasury of the Reserved Bank, the regulators, Prime Minister Scott Morrison and Treasurer Josh Frydenberg “we needed a fundamental change in economic policy to respond to the recession.”\n\n“We’re seeing that in terms of very significant government spending, government intervention, a far more expansionary monetary policy, availability of credit, and of course, what we’ll see in the budget are big personal income tax cuts and investment support for the corporate sector,” he said. \n\n“We’ll also see of course, enormous deficits and debt right across the forward estimates, the magnitude of this, the numbers are just going to be staggering.\n\n“The debate is going to be about Keynesian demand stimulus, jobs, and economic activity until we get the unemployment rate back comfortably below 6 per cent. \n\n“Well that’s going to be a few years away yet.”\n
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'Open faster': The Morrison Government's message to Daniel AndrewsAs the Federal Government finalises next week's budget, Scott Morrison, Josh Frydenberg and Greg Hunt have applied the blow torch to Daniel Andrews, writes Michelle Grattan.
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Treasurer calls on Andrews to allow all students back to schoolTreasurer Josh Frydenberg has urged Victoria to allow schoolchildren of all ages back into the classroom, citing reports of growing mental health problems.
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Small to medium sized businesses' hopes ‘evaporating’ amid Port Botany protest | Sky News AustraliaIFCBA Director Paul Damkjaer says small and medium business’ last chance to make sense of 2020 has evaporated amid the Port Botany protests given businesses are now facing cancelled orders and massive financial loss.\n\nTens of thousands of shipping containers holding critical supplies await unloading off the New South Wales coast as wharf workers at Patrick’s Terminal call for a six per cent annual pay rise each year over the next four years.\n\nPrime Minister Scott Morrison has labelled the protest as “straight out extortion”, urging the union movement to distance itself from the behaviour perpetrated by the go-slow campaigners.\n\n“I’ve had whole host of heartfelt letters from small to medium size enterprises, and this was their last chance to make any sort of sense out of 2020,” Mr Damkjaer told Sky News host Peta Credlin.\n\n“Now it’s sort of evaporating with the possibility of cancelled orders.\n\n“One small to medium sized business who’s really just starting to get on its feet is probably in the vicinity of a $750,000 to one million dollar loss … because of the delays for the Christmas rush.” \n
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