Macquarie University/The Lighthouse
Although the worst of the pandemic shock has passed, the government has gone for increased spending rather than faster debt consolidation. And as Macquarie Business School’s Professor David Orsmond explains, stronger measures to boost productivity and jobs in the medium-term are still needed.
Australia’s economic recovery has been remarkable. Just over a year ago, as COVID-19 started to circulate globally, Treasurer Josh Frydenberg noted we were “staring into the economic abyss”.
Splurge: From economic ‘abyss’ to spending spree, Treasurer Josh Frydenberg unleashed wide-ranging funding boosts to childcare, aged care, disability and mental health services in this week’s budget.