Now we'll need $100-$120 billion. Why the budget has to spend big to avoid scarring
- Written by Brendan Coates, Program Director, Household Finances, Grattan Institute
Chingfoto/ShutterstockAustralia is in for a long and damaging economic slump, unless governments inject substantially more fiscal stimulus.
The July budget update forecast that unemployment would hit 9.25% in coming months.
The Treasury now apparently expects it to remain above 6% for the next half-decade.
That would be a disastrously sluggish...
Read more: Now we'll need $100-$120 billion. Why the budget has to spend big to avoid scarring
