The Australian government’s spending is Keynesian, but its approach to wage growth is not.
Scandals, elections, budgets, 2016 had it all. Here’s what made news in business and economics.
Politicians talking budget deficits have a difficult message to sell.
National governments do not, and should not, behave like a private household.
MYEFO leaves Treasurer Scott Morrison with the difficult task of managing Australia through a period of both sluggish GDP growth and a persistent budget deficit.
Next year GDP will grow at the second-slowest rate in 16 years, according to MYEFO. This has big implications for unemployment and the deficit.
Treasurer Scott Morrison is also a fan of charts.
Economist Ross Guest unpacks some of the key numbers in the government’s mid year budget update, with seven charts.
MYEFO is more positive about the 2016-17 budget bottom line than previous expectations. However, projections over the forward estimates have worsened.
While MYEFO discussion focuses on the budget deficit, experts say it also serves as a stark reminder of the need for bigger policy ideas in Canberra.
Scott Morrison and Mathias Cormann speak to the media after the release of MYEFO in Canberra on Monday.
The government has made a concerted bid to reinforce Australia’s AAA credit credentials by ensuring the budget is still projected to return to surplus in 2020-21.
How does Australia’s economic growth shape up against the G7 countries?
AAP Image/Joe Castro
Ahead of the Mid Year Economic and Fiscal Outlook, minister for defence industries Christopher Pyne said a lot of jobs were created in 2016 and Australia has the highest growth rate in the G7. Is that true?
The world economy is inextricably linked with the US.
A lot has changed in the global economy since the Federal Budget 2016.