New budget thinking needed in 'upside-down' world
The old budget rules have changed and fiscal policy is in an 'upside-down' world where spending more money can now can help lower unemployment and improve the budget's medium-term health.
As Prime Minister Scott Morrison and Treasurer Josh Frydenberg put the finishing touches on the government's economic statement, leading economists say the old budget rules have changed and fiscal policy is in an "upside-down" world.
Spending more borrowed money temporarily during the deep virus-induced recession can help both lower unemployment and be better for the budget's medium-term health.
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