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Complacent government delivers early shock therapy to prepare public for cuts – Sydney Morning Herald

Sorry, but this is the economic statement of a government that’s complacent about controlling the coronavirus and about getting a million unemployed people back to work. Morrison and Frydenberg have called for the bill. But they’ve made quite an assumption in…

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If so, the government might have a lot more spending to do to keep the economy above water until the pandemics once-in-a-century shock to the economy has passed.
Were you shocked by the news of the highest budget deficits since World War II, leading to net public debt already up to $488 billion and expected to hit $677 billion by next June?
Such shock seems to have been the main goal of Thursdays budget update. The governments spin doctors announced the fate of both the JobKeeper wage subsidy …

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