Younger workers will suffer an 8 per cent hit to wages as the pandemic destroys companies and jobs, according to federal budget forecasts that back the case for faster tax cuts as a priority to revive growth | CroweDM
Younger workers will suffer an 8 per cent hit to wages as the pandemic destroys companies and jobs, according to federal budget forecasts that back the case for faster tax cuts as a priority to revive growth.
"We've got existing programs, which are important, but what you'll see in the budget is more investment in infrastructure and tax incentives for more business investment," he said.
Mr Frydenberg said the high savings rate this year was due in part to social restrictions caused by the pandemic. Mr Frydenberg warned unemployment always rose quickly and fell slowly, saying it went "up the elevators and down the stairs" and caused problems that took years to repair.
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