The federal government delivered “the right budget for the right time” with mass spending to support jobs which was what Treasurer Josh Frydenberg said it would be, according to Cornerstone Group Senior Director James Cullen.
“It’s basically what we thought it would be a couple weeks out, ultimately lower debt and deficit than what they forecast previously, a massive budget improvement of over $100 billion,” he told Sky News. Mr Cullen said the treasurer had been suggesting it would be a budget with mass spending but said it was “prudent” to support the economy this way.
Mr Cullen said Mr Frydenberg had allocated support for the parts of the economy which needed attention assuming Australia’s borders would stay closed. “We’ve got a closed economy in parts, we’re going to have another 12 months at least of no international travel, focussing on the vaccine rollout, there’s going to be parts of the economy which continue to do it tough.”
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