The manufacturing sector is demanding a financial stimulus "spark" to head off a lift in unemployment, as the Morrison government reveals it is building a budget surplus in case the economy deteriorates.for the current year from 2.8 per cent to 1.7 per cent. It also expects unemployment to average 5.1 per cent over the next two years, well short of what the Reserve Bank believes is necessary to drive wages growth.
The government, which is forecasting a $7.1 billion surplus this financial year, is standing by its belief that its tax cuts on top of the RBA's three reductions in official interest rates will work through the economy.
Thick No other way to describe the economic incompetence of the LNP Just think water WATER, our economy is going down the same drain the Murray Darling systems water went down......and it aint coming back
In case? Should read 'for when'.
nobby15 So building a budget surplus has deteriorated the economy then
“building a budget surplus in case the economy deteriorates” is frighteningly ignorant. Sound the MMT siren and light the billy_blog signal.
Twat destroyed the manufacturing industry by not putting a gas reservation in which would have played into the energy sector. But hey why not sell it all off and we will import it back and rent back the electricity infrastructure from overseas ownership.
nobby15 The Coalition has been working towards Recession for many years. The FakeSurplus is a drop in the bucket, and will do nothing to rescue a deliberately trashed economy. . I would expect the Liberals to refute the IMF's summation as more NegativeGlobalisation
Would a newstart increase fit the bill?