Business
‘Budget bent but not broken’: Analysts urge Frydenberg not to scrimp on stimulus – Sydney Morning Herald
Analysts are backing big spending despite the government facing a $200 billion deficit and $1 trillion in debt.
Revenue in 2022-23 is forecast to be about $40 billion lower than was predicted in last year’s budget as the coronavirus pandemic leaves a hole in tax collections.
Deloitte director Chris Richardson said that while the numbers were large, they had to be considering the amount of support the economy needed to extricate itself from the recession.
He said much of the government’s spending so far did not have a long-term impact on a budget that would ultimately recover.
“The budget is badly bent…
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