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Flat White

ScoMo, Josh: without an exit strategy we face higher taxes, higher debt, a higher cost of living – and little hope

15 April 2020

3:03 PM

15 April 2020

3:03 PM

The $320 billion of fiscal and monetary measures in response to the coronavirus, however necessary, will impose a debilitating cost on all Australians with consequences for years to come. The government needs to outline an exit strategy from these extraordinary levels of intervention.

The Morrison government is right to prioritise assisting businesses to come through the lockdown and maintain their connection with their employees, but an additional $214 billion of fiscal spending combined with a large hit to government revenue could send total federal government debt on a path toward $1 trillion.

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