We are living and spending like it’s 2017 – and not in a good way

Australians have had a marked dip in the amount of spare money we have, while other nations have been flourishing. Why?

. Amazon launched Down Under. Donald Trump gave us the term “covfefe”, and Schapelle Corby finally returned to Australia as a free woman 13 years after being arrested in Bali.

Australia wasn’t the only country to go backwards during the same two-year period. However, what’s so scary are both the size of the drop, and what it means when compared with other OECD incomes. The federal government had expected the stage three tax cuts from July 1 would boost discretionary spending asa people had slightly more disposable income to play with . The ABS data shows that hasn’t happened just yet.

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