A new analysis of the government’s upcoming tax cuts,now supported by Labor,shows they will cost the budget more than $184 billion by 2031.
The nation’s biggest business lobby says there needs to be a smarter approach to lockdowns as research warns this year’s economic gains could be wiped out.
Treasurer Josh Frydenberg says lockdowns across the country are costing the nation’s economy $300 million a day.
Scott Morrison has warned the damage from lockdowns will be significant but anticipates a sharp recovery before Christmas.
Workers will not make up for the lost wage growth caused by the pandemic,the RBA has warned as the economic fallout from recent lockdowns grows.
KPMG estimates the lockdown in Sydney will cost about $220 million a day while in Victoria the cost will be closer to $150 million a day.
Generals are often accused of fighting their last war. The Reserve Bank is fighting the pre-COVID war of low wages growth to boost the post-virus economy.
The RBA has changed its rhetoric on keeping rates unchanged until “2024 at the earliest” and is war gaming how to take heat out of the nation’s booming property market.
The RBA has taken the first step towards normalising monetary policy. But it was the babiest of baby steps as the bank hopes for an even stronger recovery.
The RBA has thrown record low interest rates and hundreds of billions of cheap dollars at the economy. Now it is time to start winding back the support.
The coronavirus pandemic could accelerate the shift of women into male-dominated jobs as the employment market changes.