Sky News Political Editor aclennell says the government’s revised fiscal strategy is setting Australia up for a “hell of a deficit” ahead of the October 6 budget.
Sky News Political Editor Andrew Clennell says the government’s revised fiscal strategy is setting Australia up for a “hell of a deficit” ahead of the October 6 budget. Treasurer 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. In place of the previous fiscal strategy there will now be a two phase approach.
The first is about boosting confidence and getting Australians back to work. The second will happen when Australia’s recovery is in full swing, with Mr Frydenberg making it clear that won’t occur until unemployment is below six per cent. “I’ve been talking about $200 billion; one wonders if it will actually be bigger,” Mr Clennell said. “We’ve had the biggest support in our history, $101 billion for JobKeeper alone.
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