Last September, the Organisation for Economic Co-operation and Development recommended the government provide a medium-term fiscal strategy with targets that are associated with “specific timeframes or conditional on measurable economic outcomes”.
If the economy remains strong, commodity prices high and unemployment low, balancing the budget or running smaller deficits of around 1 per cent to 2 per cent of GDP would shrink the debt-to-GDP ratio faster., to give space for the Reserve Bank of Australia to normalise interest rates. Deloitte Access Economics estimates more than $40 billion of annual spending cuts is required in the medium term.
Keating never managed a pandemic so not comparable. Before the pandemic things were tracking fine.
Josh is not a capable treasurer as he is too political He wasted $-bils on Jobkeeper to profitable corps as they r mates He wasted $640mils on carparks n he is going to spend $-bils on Joyce useless dams
Not if they want to stay in government.
Oh, we’re caring about the deficit again, are we? Even after the Liberal/National parties took it over a trillion dollars? Barely a whimper about that. I guess it only matters if/when we have a federal Labor govt. I’m sure we will hear endlessly about its actual size then 🙄😒
There is no such thing as “the national credit card”.