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‘Fiscal cliff’ fear: Frydenberg decides to favour limiting debt and deficit – Sydney Morning Herald
Despite what the Treasurer wants you to think this week’s measures and mini-budget aren’t expansionary, they’re contractionary.
After September, the JobSeeker supplement to the dole will be cut from $550 a fortnight to $250 a fortnight, and wound up after December.
Over the six months to September, JobKeeper is expected to cost something less than $70 billion, whereas the following six months will cost $16 billion. Slashing the JobKeeper supplement will reduce the additional cost to less than $4 billion.
And if a sharp recovery in private sector spending doesnt occur in the next six months it would be another of Morris…
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