Assuming jobs will grow as JobKeeper is wound back is a leap of faith.
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Borrowing to reduce unemployment and increase growth will pay for itself.
Chifley, Menzies, Holt, Gorton, McMahon, Whitlam and Fraser targeted budget deficits.
The budget needs to spend big, but it shouldn’t stop there.
We could do it for the price of tax cuts.
The new rules will allow insolvent small businesses to keep trading rather than go straight into administration.
More than half back a permanent boost to JobSeeker. Only one in five want to bring forward tax cuts.
Easing off when the unemployment rate is 6% would leave us worse off than we’ve been in decades.
While necessary during the crisis, government borrowing isn’t costless. Longer term, it might depress living standards.
Making some of the Newstart increase permanent would undo the worst of the damage.
Unless we get unemployment down quickly young Australians will wear the scars of the recession for a decade.
It’s the worst since the Great Depression and it isn’t clear there’s a path out.
Its central scenario is the worst recession in 70 years. Its worst case scenario has the effects lingering for a decade.
Going GST-free for six months would cost the budget $35 billion. Very little of it would be wasted.
Modern Monetary Theory is suddenly popular because it implies governments can spend as much as they need to. But that spending comes with risks.
We’ve an opportunity to get JobKeeper right. A start would be to pay on time, to include more workers, and to pay part-timers less.
The government will extend its $150,000 instant assets write-off until the end of the year
It’s far too early to declare victory. The need for conventional economic stimulus has just begun.
This 2020 budget is not the pivot to a green rebuild many had hoped for. But its short-term focus on caring for people’s health leaves the door open to stronger climate action down the track.
NZ$4.3 billion will go some way to patch up long-standing cracks in New Zealand’s health system. But COVID-19 has shown NZ’s regional approach to health isn’t good enough against a nationwide threat.
Principais colaboradores
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Professorial Fellow, University of Canberra
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Senior Associate, Grattan Institute
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Program Director, Economic Policy, Grattan Institute
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Chief executive officer, Grattan Institute
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Associate, Grattan Institute
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Former Education Policy Fellow, Mitchell Institute, Victoria University
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Visiting Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne
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Professor, Curtin Law School and Curtin Business School, Curtin University
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Professor of Economics and Public Policy, ANU College of Arts and Social Sciences, Australian National University
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Deputy Program Director, Budgets and Government, Grattan Institute
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Associate Professor, POLIS@ANU Centre for Social Policy Research, Australian National University
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Professor in Conservation Science, School of the Environment, The University of Queensland
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Associate Professor, UNSW Sydney
