Treasurer Frydenberg shuffles back to austerity : vimarsana.

Treasurer Frydenberg shuffles back to austerity


This is a far cry from the government’s howls of “debt and deficit disaster” in response to the then Labor government’s much smaller stimulus spending, following the 2008 global financial crisis.
It is also a departure from the Coalition’s usual commitment to neoliberal economics, although in a context in which neoliberal governments globally have changed their tune, at least temporarily.
Even the recent more moderate language of “budget repair” looks like it will be moved to the back burner.
The motivation for this temporary change in perspective will be, in part, the standard political calculation that this is likely to be the last budget before the next federal election. With the vaccine roll-out falling drastically short of target, the government can ill afford to lose more credibility with voters.

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