Health
Mammoth debt? Relax, borrowing big is the right thing to do – Sydney Morning Herald
The government’s net debt, which was at zero before the pandemic, will surge to $50 billion this financial year and peak at more than $100 billion in mid-2024.
The coronavirus pandemic has transformed the conventions of budget politics in Australia.
With interest rates close to zero, governments at both the federal and state level must take the lead in repairing the damage left by the pandemic.
In recent weeks Australias Reserve Bank and the International Monetary Fund have urged governments to spend more in a bid to boost demand for jobs. The funds chief economist Gita Gopinal said earlier this month government spending “will need to be the main game…
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