Budget double backflips not enough to land jobless target
The Treasurer has flipped on the surplus and the personal tax cuts. But the third twist needed to get unemployment comfortably under 6 per cent is billions more stimulus spending.
If Josh Frydenberg’s second budget was a gymnastics move it would be the "triple double": the double backflip with three twists that all but the bravest athletes shy away from.
A pandemic, a globally synchronised recession, and monetary policy almost out of puff all make next week’s budget a high-stakes affair. The Treasurer looks like he has the appetite for a red-hot go, but executing will be no mean feat.
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Danielle Wood is the chairwoman of the Productivity Commission.
