<iframe src="//www.googletagmanager.com/ns.html?id=GTM-K3L4M3" height="0" width="0" style="display:none;visibility:hidden">

Leading article Australia

Speccie vs Stasiland

10 October 2020

9:00 AM

10 October 2020

9:00 AM

This week’s budget is a tale of Covid-induced devastation. Instead of being Back in the Black, there is a deficit of eye-watering proportions to last a decade and more, barring any additional shocks. The public debt ceiling is now $1.1 trillion, roughly half Australia’s GDP. PM Scott Morrison and Treasurer Josh Frydenberg are driving welcome and significant tax cuts to stimulate recovery, camouflaging FDR-style big infrastructure and wage subsidy spends.

Already a subscriber? Log in

Subscribe for just $2 a week

Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.

  • Unlimited access to spectator.com.au and app
  • The weekly edition on the Spectator Australia app
  • Spectator podcasts and newsletters
  • Full access to spectator.co.uk
Or

Unlock this article

REGISTER

You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.


Comments

Don't miss out

Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.

Already a subscriber? Log in

Close