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In the first paper in the CEDA Council on Economic Policy Economic Recovery Series, Professor Percy Allan and The Hon. Dr Craig Emerson consider the need for new macroeconomic policy to avoid the 'cliff' marked by the end of the Federal Government's initial support measures in September
"There is a serious risk that the Australian economy will relapse into deep recession once most of the existing fiscal relief measures expire at the end of September 2020. To avoid that fate, the Federal Government should adopt another large round of fiscal stimulus."
- Professor Percy Allan & The Hon. Dr Craig Emerson
For policy makers the burning issue is how to prevent the Australian economy suffering a double-dip collapse after existing income and other Federal Government support measures designed to offset the effects of the COVID-19 pandemic expire in late September 2020.
The Federal Treasurer, Josh Frydenberg, will provide an updated economic and fiscal outlook on 23 July, which is expected to outline some features of the government’s fiscal strategy ahead of its full budget on 6 October 2020.
Victorian Budget focuses support on households, with little relief for businesses.
Read more Economy November 14, 2024Australia's ranking in the IMD world digital competitiveness ranking 2024 has been revealed.
Read more Economy October 18, 2024The Federal Government's new cap on international students has come at a time of public debate about the impact of migration on housing affordability and availability. But targeting student migration does not address the many complex challenges Australia faces on housing.
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