Budget 2020/21 – Extraordinary times, extraordinary outcomes

The 2020/21 Budget has detailed an extraordinary deficit of $A213.7bn, which at an estimated 11.0% of GDP is the largest budget deficit since the end of WWII.  In this podcast Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist discuss the budget numbers, the new policy announcements and sense check the economic assumptions. Debt will rise from here but the economic return on this debt though outweighs the cost and closes the gap between extraordinary monetary policy support and a further easing of fiscal policy.

 

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