Assuming jobs will grow as JobKeeper is wound back is a leap of faith.
Articles on Budget 2020
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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.
Top contributors
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Chief executive officer, Grattan Institute
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Program Director, Housing and Economic Security, Grattan Institute
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Professorial Fellow, University of Canberra
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Senior Associate, Grattan Institute
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Former Education Policy Fellow, Mitchell Institute, Victoria University
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Associate, Grattan Institute
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Visiting Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Associate Professor, UNSW
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Professor of Finance, International Institute for Management Development (IMD)
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Professor of Economics, University of Aberdeen
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Head of Inclusive Innovation, Nesta
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Research Fellow, The University of Queensland
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Executive Dean, Bond Business School, Bond University
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Professor in Entrepreneurship and Small Business Finance, University of St Andrews