Josh Frydenberg’s budget relies on tax cuts and business incentives, but rests on some optimistic assumptions. Follow all the reaction and coronavirus news
- Budget 2020: Coalition banks on $98bn injection to jolt Australia’s economy back to life
- Federal budget summary: all the key points at a glance
11.23pm BST
Given that women have been more adversely impacted than men during the pandemic, this, from Jenny McAllister, is going to be another recurring theme:
There are very limited initiatives for Australian women in the budget. The Women’s Economic Security Statement – much fanfare about that – the government is spending half the amount on that statement that they are on an initiative to improve the IT resources at service Australia. This is a government that is not taking women’s interests into account when they are making economic decisions.
11.20pm BST
At caucus earlier this week, Anthony Albanese told his colleagues to prepare for a shift in the opposition’s narrative.
In short, Labor might actually start opposing some things.
Or at the very lease, the ‘constructive’ opposition Albanese said he wanted to create seems to be making way for attack lines.
Why? Doesn’t he want to be the Prime Minister. It is the Morrison Recession. This recession will be longer and deeper and this Government was slow to react. We had a doubling of the debt last year. Wages stagnant last year and consumer confidence going down and productivity going backwards. That is how we entered this period. He was very reluctant to put on wage subsidies. Now he is withdrawing wage subsidies too early. He is withdrawing and lowering the unemployment benefits, JobSeeker, too early. And for a whole bunch of people, if you are over 35 out there, first you get your wage subsidy decreased and then it disappears entirely next March. If you are unemployment benefits you are back to $40 a day. Then you have to compete with people who are being subsidised, competing for work. We should not throw people on the scrap heap. It is the big danger with recession, is that people go into unemployment and are unable to get back into the workforce. Where is the women’s workforce participation program in this Budget? There is nothing.
Have you ever used ‘Keating Recession’ about the 1990s? I think you have. There were global circumstances there as well. I mean, this is a mob that have spoken about debt of $200 billion as being a crisis and they blamed Rudd. They speak about Labor’s debt. But they are racking up debt of $1 trillion that they don’t want to be associated with any of it. The fact is that they had doubled the debt last year. They didn’t have a plan for the economy. And there is still no major reform plan here. One would have thought out of this recession you should be looking at ‘Okay, how do we build a stronger Australia? What is the big reform measure out of this Budget?’ I can’t see one.
Continue reading…Josh Frydenberg’s budget relies on tax cuts and business incentives, but rests on some optimistic assumptions. Follow all the reaction and coronavirus newsBudget 2020: Coalition banks on $98bn injection to jolt Australia’s economy back to lifeFederal budget summary: all the key points at a glance 11.23pm BSTGiven that women have been more adversely impacted than men during the pandemic, this, from Jenny McAllister, is going to be another recurring theme:There are very limited initiatives for Australian women in the budget. The Women’s Economic Security Statement – much fanfare about that – the government is spending half the amount on that statement that they are on an initiative to improve the IT resources at service Australia. This is a government that is not taking women’s interests into account when they are making economic decisions. 11.20pm BSTAt caucus earlier this week, Anthony Albanese told his colleagues to prepare for a shift in the opposition’s narrative.In short, Labor might actually start opposing some things.Or at the very lease, the ‘constructive’ opposition Albanese said he wanted to create seems to be making way for attack lines.Why? Doesn’t he want to be the Prime Minister. It is the Morrison Recession. This recession will be longer and deeper and this Government was slow to react. We had a doubling of the debt last year. Wages stagnant last year and consumer confidence going down and productivity going backwards. That is how we entered this period. He was very reluctant to put on wage subsidies. Now he is withdrawing wage subsidies too early. He is withdrawing and lowering the unemployment benefits, JobSeeker, too early. And for a whole bunch of people, if you are over 35 out there, first you get your wage subsidy decreased and then it disappears entirely next March. If you are unemployment benefits you are back to $40 a day. Then you have to compete with people who are being subsidised, competing for work. We should not throw people on the scrap heap. It is the big danger with recession, is that people go into unemployment and are unable to get back into the workforce. Where is the women’s workforce participation program in this Budget? There is nothing.Have you ever used ‘Keating Recession’ about the 1990s? I think you have. There were global circumstances there as well. I mean, this is a mob that have spoken about debt of $200 billion as being a crisis and they blamed Rudd. They speak about Labor’s debt. But they are racking up debt of $1 trillion that they don’t want to be associated with any of it. The fact is that they had doubled the debt last year. They didn’t have a plan for the economy. And there is still no major reform plan here. One would have thought out of this recession you should be looking at ‘Okay, how do we build a stronger Australia? What is the big reform measure out of this Budget?’ I can’t see one. Continue reading…