View: The era of big fiscal spending has only just begun
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Last Updated: May 13, 2021, 10:40 AM IST
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Prime Minister Scott Morrison s team forecast this week a shortfall worth 5 per cent of gross domestic product in the year through June 2022, greater than anticipated.
Australia is fortifying the economy with huge government spending that will last well beyond this year s projected global rebound. With Covid-19 infections resurgent in Asia, prompting fresh curbs on activity, it’s time to shift our thinking about the longevity of big-ticket stimulus. This isn’t going to be a one-shot deal.
Prime Minister Scott Morrison s team forecast this week a shortfall worth 5 per cent of gross domestic product in the year through June 2022, greater than anticipated. Finances will be in the red at least until 2025, officials predict. (This, in a country once fixated on a balanced budget.) The message contrasts starkly with pledges by Morrison and Treasurer Josh Frydenberg
Pat Conroy Member for Shortland chats to Richard and Shanna about the upcoming budget
May 11, 2021
Listen to the podcast here.
Patrick Martin Conroy is an Australian politician. He is a member of the Australian Labor Party and has been a member of the House of Representatives since 2013. He represented the Division of Charlton in New South Wales until its abolition in 2016, and since then has represented the Division of Shortland
Australian Labor Party leader Anthony Albanese joined in on protests for greater aged care support at Federation Mall. Photo: Nathan Schmidt.
THE Health Services Union and dozens of aged care workers marched on Parliament House today (May 10) calling on the federal government to allocate more money to the aged care sector ahead of the 2021-22 Federal Budget.
Due to be passed down tomorrow (May 11), the budget is expected to allocate $10 billion over a four year period to the embattled industry, according to the union.
Its president, Gerard Hayes, said that amount is inadequate.
Instead, the union has suggested that at least $20 billion – twice the expected budgetary allocation – is needed, according to their modelling.
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WA Voting Reforms Could See Regional Australia Lose Representation
The Western Australian Labor Party has announced that the Upper House will face a complete overhaul despite Premier Mark McGowan’s repeated assurance stating otherwise leading some to call into question McGowan’s integrity following an election promise saw record high regional support.
Despite McGowan’s expressed support for “enhanced regional representation in Parliament,” the restructure will serve to achieve the exact opposite, says head of law at Sheridan College and former law reform commissioner Augusto Zimmerman.
“The plans to reform WA’s Upper House voting system will result in considerably less regional representation,” Zimmerman told The Epoch Times.