Budget must chart course to eliminate debt and deficit
The Morrison government must use next week's budget to offer the public longer-term confidence by showing that it has a plan to deal with the huge virus hit on its own finances.
Yesterday, Scott Morrison said next Tuesday’s budget will be Australia’s most important since World War II. It will address what is already the deepest economic downturn in a century.
If it does become a historic success in its own right, it will be because of two things. It will spend and invest to create desperately needed new jobs and reboot national growth. But it cannot restore real long-term confidence unless it also charts a course back to fiscal discipline for a newly indebted government.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
