Opinion

Crisis calls for a double guarantee covering wages and loans

A combination of wage subsidies and loan guarantees is the only way to hold together employers, workers, and ultimately the Australian economy.

Kevin RuddFormer Australian prime minister

Mar 29, 2020 – 2.46pm

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Now that Scott Morrison has finally conceded that fiscal stimulus, budget deficits and greater public debt are essential policy responses to a collapsing economy, it’s important to analyse whether the specific measures he has taken are optimal, given the current crisis.

The worst-kept secret in Canberra for months now has been Treasury trying to convince the Morrison government to embrace stimulus.

Kevin Rudd a former Labor prime minister and foreign affairs minister of Australia. Connect with Kevin on Facebook and Twitter.