No one could have foreseen how Australia’s economy would power back from the pandemic. But future budgets will not have the strengths of recent decades.
Federal Treasurer Josh Frydenberg has mapped out his fiscal framework for the March 29 budget from a place scarcely believable after the carnage just two years ago.
Jobs are booming, with the 4 per cent jobless rate at its equal lowest since 1974. Commodity prices are high. Both will deliver spades of tax revenue as welfare payments fall.
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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.
