This week’s budget is a tale of Covid-induced devastation. Instead of being Back in the Black, there is a deficit of eye-watering proportions to last a decade and more, barring any additional shocks. The public debt ceiling is now $1.1 trillion, roughly half Australia’s GDP. PM Scott Morrison and Treasurer Josh Frydenberg are driving welcome and significant tax cuts to stimulate recovery, camouflaging FDR-style big infrastructure and wage subsidy spends.
Already a subscriber? Log in
Get 10 issues
for $20
Subscribe to The Spectator Australia today for the next 10 magazine issues, plus full online access, for just $20.
- Delivery of the weekly magazine
- Unlimited access to spectator.com.au and app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Unlock this article
You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in