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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.
The principle of means testing for aged care should not be controversial as long as the system is underpinned by a robust safety net to support those who can’t afford care, such as those on a full aged pension. The argument by some that “I’ve paid my dues” through a lifetime of paying tax ignores the fundamental social compact of our system - taxes are a collective investment in our society, writes CEDA CEO Melinda Cilento and CEDA Chief Economist Cassandra Winzar.
Read more Economy January 30, 2017The 2011 CEDA/Business Spectator survey revealed that productivity and infrastructure are the key topics the business community want Governments to focus on in 2012.
Read more Economy February 29, 2016CEDA released a research report in March 2016 which examines how Australia can balance the books and repair the budget
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