has defended the federal government's record debt and deficit levels, even as he confirms billions in new expenditure designed to drive unemployment to historic lows.
The funds will include just over $100 million for improved cervical and breast cancer screening and $95.9 million for genetic testing of embryos for genetic or chromosomal abnormalities.Since the start of the coronavirus pandemic last year, the total level of Commonwealth debt has skyrocketed to unprecedented highs.
But Mr Frydenberg told Uhlmann that the Coalition's response has been proportionate to the current crisis."In 2009, GPD fell by 0.1 per cent – last year, it fell by 3.1 per cent.READ MORE: Of the government's record expenditure, $90 billion of it was poured into JobKeeper to keep Australians in work through COVID-19 lockdowns and a global economic slow-down.
Currently, the unemployment rate is at 5.6 per cent with the historic long-term average since the 1970s of around 6 per cent.
More debt,misery and corruption.
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The 2021 Federal budget will ‘effectively’ be a pre-election budget | Sky News AustraliaThe Australian's Dennis Shanahan says the federal government will be “playing to the strength of economic security” in budget which will be delivered on Tuesday in the lead up to the next election. \n\n“This is effectively a pre-election budget, even if there is another budget in April next year before a May election, this is the real formation of the political strategy and the economic strategy for the election,” he said. \n\n“What we are seeing is a greater emphasis on the economy in this budget than a budget in itself.\n\n“What were seeing is that Josh Frydenberg is saying the way to fix the budget, with record national debt and record deficit, is to actually fix the economy by job creation and getting business investment rolling.\n\n“So far that has been working very well, much better than expected because of the COVID pandemic - so the government is playing to that strength of economic security, that is job security”.\n\nMr Shanahan told Sky News because it would be a pandemic election the emphasis in the budget would still be on healthcare and helping people whose jobs have been affected by COVID. \n Ra ra ra .. not voting for the clowns who don’t hold the hose. Meaning that they'll blow it all and double the debt again so they can blame labor WTF does that even mean? A drovers dog could run the Australian economy, but it takes the drunken sailors of the LNP to rack up a staggering $1Trillion debt!
Source: SkyNewsAust - 🏆 7. / 78 Read more »