Business
Smaller economy will prolong deficits: Frydenberg – The Australian Financial Review
The government will not start to focus on a return to surplus until the unemployment rate is ‘comfortably” below 6 per cent, Treasurer Josh Frydenberg said.
In a speech on Thursday to reset the government’s fiscal strategy, Mr Frydenberg said it would be imprudent and unrealsitic to use the budget to prioritise paying down the deficit and liminating net debt in a decade, which was the previous budget strategy.
“It would now be damaging to the economy and unrealistic to target surpluses over the forward estimates, given what this would require us to do in terms of significant increases in taxes and large cuts to essentialservices,” he said.
“This …
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