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Economist Saul Eslake says there is “no principle” of public finance or economics which states the “optimal level” of government debt is zero amid concerns about the nation’s projected $980 billion debt by 2024/25. “Australia’s somewhat unusual in that we have had some years in our recent history when net debt has been zero or indeed even negative,” he said.
SaulEslake So what happened to the Debt and Deficit Crisis that so triggered the LNP when Labor was in power?
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Government 'doubles' commitment to JobTrainer fund | Sky News AustraliaTreasurer Josh Frydenberg says the government will 'double' its commitment to the JobTrainer fund, provide additional training support for women to enter 'non-traditional' workforce trades, education short courses, and an increase to JobSeeker.\n\n'In this budget, we double our commitment to the JobTrainer fund, supporting a total of more than 450,000 new training places to upskill job seekers and young people,' Mr Frydenberg said.\n\n'At a cost of $2.7 billion, we will create 170,000 new apprenticeships and traineeships; building on the 100,000 new apprentices we have already helped into a job in the first stage of the program. \n\n'We will help more women break into non-traditional trades with training support for 5,000 places and we will provide 2,700 places in Indigenous girls academies to help them finish school and enter the workforce and more STEM scholarships for women in partnership with industry.\n\n'Tonight, we are also providing another 5,000 places in higher education short courses and better matching job seekers to jobs. We will invest in modernising employment services. Including specialist assistance for young and Indigenous Australians. \n\n'Importantly for those who find themselves without work, the government has strengthened the safety net, increasing the JobSeeker payment while enhancing mutual obligations.'\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Government commits further $15b national infrastructure programs | Sky News AustraliaTreasurer Josh Frydenberg has announced a further $15 billion in additional infrastructure commitments will be added to the government's 10-year, $110 billion national infrastructure program.\n\nThe investment includes funding for the North-South Corridor in South Australia, the Great Western Highway and Newcastle Airport in New South Wales, the new Melbourne intermodal terminal in Victoria, the Bruce Highway in Queensland, Metronet in Western Australia, highway upgrades in the Northern Territory, light rail stage 2A in ACT and Midland Highway upgrades in Tasmania. \n\n'In this budget, we also invest a further $1 billion in road safety upgrades to save lives and a further $1 billion in local road infrastructure projects,' the treasurer said.\n\n'Funding for these shovel-ready projects will be provided on a use it or lose it basis, and, through the Building Better Regions Fund we will support a further $250 million of regional community infrastructure projects, creating more jobs.'\n\n JoshFrydenberg So what the total, journalists? Always reading out the press release, but ignoring the real numbers. JoshFrydenberg JoshFrydenberg Then DEBT AND DEFICIT! Now debt and deficit. sssh.
Source: SkyNewsAust - 🏆 7. / 78 Read more »