PROGRESS 2050: Toward a prosperous future for all Australians
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.
This is analysis prepared for CEDA by former senior Federal Treasury official Greg Smith, a member of CEDA’s Committee on Economic Policy. It outlines key economic issues that the Australian Government should be addressing, including why there is an urgent need for an economic statement to the nation.
Read more Economy December 5, 2017Delivering secure reliable energy is more important than lowering the cost and environmental factors but opinions on the best energy policies to deliver this were divided, in CEDA’s 2017 Big Issues survey.
Read more Economy January 30, 2017The 2010 CEDA-Business Spectator Big Issues survey has revealed widespread support for an end to stimulus spending, and for tighter budget discipline on the part of the Federal Government.
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