Treasurer coy on spending despite burden of decades-long budget debt by Sky News Australia on YouTube
Treasurer coy on spending despite burden of decades-long budget debt
With the federal debt set to weigh upon the budget for a generation, Treasurer Josh Frydenberg has expressed unwillingness to cut spending saying the economy “continues to need that support” in the wake of the pandemic. Mr Frydenberg has set his sights on a jobless rate below five percent as the Morrison government attempts to strengthen the budget bottom line. He told Sky News spending would continue to be “targeted” but noted “now is not the time for austerity” or to prematurely pull support from the economy. While some argue there is an urgency for the federal government to cut spending as opposed to embracing debt, Mr Frydenberg told Sky News “if you repair the economy you can end up repairing the budget”.
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With the federal debt set to weigh upon the budget for a generation, Treasurer Josh Frydenberg has expressed unwillingness to cut spending saying the economy “continues to need that support” in the wake of the pandemic. Mr Frydenberg has set his sights on a jobless rate below five percent as the Morrison government attempts to strengthen the budget bottom line. He told Sky News spending would continue to be “targeted” but noted “now is not the time for austerity” or to prematurely pull support from the economy. While some argue there is an urgency for the federal government to cut spending as opposed to embracing debt, Mr Frydenberg told Sky News “if you repair the economy you can end up repairing the budget”.
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