The budget's missing the political window for economic reform
The government's thrown everything at cushioning the COVID-19 blow. But it's missed the opportunity to use the record debt to get on with supply-side initiatives.
The obvious strength of the Morrison government’s strategy is the fiscal cushion it gives the economy against the destructive impact of the COVID-19 virus.
That cushion now includes personal income tax cuts, employment, and vocational training subsidies, 100 per cent business investment tax write-offs, and the offset of COVID-19-crisis losses against pre-crisis profits.
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Alan Mitchell writes on economics, policy, and infrastructure. Alan was formerly economics editor of the Financial Review and has also worked for the ABC and The Sydney Morning Herald.
