The elephant in the room in terms of the upcoming budget is how the coronavirus stimulus measures were a “complete overreaction,” according to The Australian’s Economics Editor Adam Creighton. Treasurer Josh Frydenberg is set to deliver the federal budget next week, with increased spending likely to be a feature in order to stimulate a post-COVID economy.
Although the treasurer was expected to deliver a budget surplus for the first time since the GFC, due to the coronavirus, the budget deficit is likely to be the biggest since World War Two roughly equating to over $200 billion. “We’ve spent far too much money than we needed to,” Mr Creighton told Sky News host Alan Jones. “You certainly won’t hear the prime minister saying that.”
Adam_Creighton adam creighton? the guy who thinks the elderly and frail should sacrifice their lives just so he can live life normally, that adam creighton?
Adam_Creighton HERE ARE SKY NEWS MEDICAL ADVISERS.
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Financial bail-outs need to go from government thinking | Sky News AustraliaSky News contributor Cory Bernardi says businesses and consumers need to take more responsibility for their spending and loaning.\n\nMr Benardi said the last time the “world was going to end” and governments scrambled to save Australians was the 2008 Global Financial Crisis. \n\n“The effective cause of the GFC was irresponsible home loans by US banks to the unemployed and the unemployable under the guise of 'fairness and equity'.,' Mr Bernardi said.\n\n“These sub-prime mortgages were packaged up and on sold to investors. \n\n“When they collapsed, many institutional investors, like the investment banks, were then bailed out by taxpayers.”\n\nMr Bernardi said then Prime Minister Kevid Rudd introduced responsible lending laws to respond to the failures of the credit system. \n\nThese laws, however, gave banks the responsibility of ensuring their clients repay their borrowings, at risk of being held liable for the borrowers default. \n\n“The government has now abandoned the Rudd era responsible lending laws in a bid to inject a shot of credit adrenaline into our economy,” he said.\n\n“Now I am for more deregulation…as long as only the two parties to the transaction are the only one's held responsible for any negative outcomes.\n\n“The credit victim mentality has to stop. \n\n“If you want less regulation and more freedom, there also needs to be more responsibility.” \n Cory Bernardi? You’re quoting that clown on anything? 🤪🤣🤪🤣🤪🤣🤪🤣🤪🤣🤪🤣 LiveSundayWord The Messiah is coming 메시아께서 오십니다 2020년 9월 27일 한국어 생방송 So should the Canberra politicians, interesting that they seem to be avoiding the idea of a federal ICAC as much as possible.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Budget to show a 'vote of confidence' in Australians: PM | Sky News AustraliaPrime Minister Scott Morrison is stressing this year’s budget will be largely focused on jobs as it places a “vote of confidence” in Australian workers. \n\nThe government flagged more money would be spent on business incentives, funding for aged care and support for pensioners, however, warned against expecting changes to the JobKeeper program. \n\nFrom today, JobKeeper payments will be revised down from $1500 a fortnight for full time workers to $1200, with part time workers to receive $750 a fortnight. \n\nMr Morrison confirmed only that the wage subsidy program would be in place until the end of March, saying he did not want to “mislead” Australians. \n\n“What you’ll see in the budget is a vote of confidence in the Australian economy… in Australians and that they, working together, will lift our economy out of the heavy blow it has suffered,” he said. \n\nMeanwhile, the government is set to extend support for regional airlines until the end of March. \n\nThe deputy prime minister will announce the move today. \n\nThe cost of the extension has not been revealed, as the deputy prime minister flagged it was contingent on how long some states kept their borders closed. \n\n \n ScottMorrisonMP ScottMorrisonMP ScottMorrisonMP Like the sports rorts
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