Business Daily Media

Men's Weekly

.

Ross Gittins on the government's 'surplus obsession'

  • Written by Michelle Grattan, Professorial Fellow, University of Canberra

The Australian economy is growing slowly, with people not opening their purses and businesses uncertain about the future.

The Reserve Bank has cut interest rates three times this year - the official cash rate is currently at a historic low of 0.75%. Many are arguing monetary policy has run its course, and fiscal stimulus is needed. This week’s Essential poll[1] shows voters tend to think so as well, with 56% agreeing that stimulating the economy should be prioritised over getting back to budget surplus.

The Morrison government, however, is reluctant to do anything impinging on the projected surplus, which has become a political icon for it.

How long can the government maintain this position if the growth numbers don’t improve? And does action need to be taken now? Joining Michelle Grattan to talk about these issues is Ross Gittins, economics editor of the Sydney Morning Herald.

image

New to podcasts?

Podcasts are often best enjoyed using a podcast app. All iPhones come with the Apple Podcasts app already installed, or you may want to listen and subscribe on another app such as Pocket Casts (click here[2] to listen to Politics with Michelle Grattan on Pocket Casts).

You can also hear it on Stitcher, Spotify or any of the apps below. Just pick a service from one of those listed below and click on the icon to find Politics with Michelle Grattan.

image image

image image

image image

Additional audio

A List of Ways to Die[3], Lee Rosevere, from Free Music Archive.

Image:

AAP/ Mick Tsikas

References

  1. ^ Essential poll (www.theguardian.com)
  2. ^ here (pca.st)
  3. ^ A List of Ways to Die (freemusicarchive.org)

Authors: Michelle Grattan, Professorial Fellow, University of Canberra

Read more http://theconversation.com/politics-with-michelle-grattan-ross-gittins-on-the-governments-surplus-obsession-126028

Sleep Soundly, Knowing Your People Are Paid Right: Navigating the Complexities of Modern Payroll

The Role of Modern Payroll Modern payroll systems are essential to any organization's financial infrastructure in today's rapidly evolving business...

Tariffs for dummies: Getting to grips with the business of exporting goods and services

It pays to understand how the international taxation system works before you start selling abroad. Take a glance at the business news just now an...

Deputy Unveils Enterprise-Grade Analytics+ to Power Smarter Workforce Decisions for Shift-Based Businesses

Deputy, the world’s leading workforce management platform for shift work, today announced the global launch of Deputy Analytics+, a next-generatio...

UNSW startup accelerator offers $200K to the next generation of Australian deeptech unicorns

UNSW Founders, Australia’s most recommended startup accelerator, has partnered with fund manager Luminary Partners to invest $200,000 each into 18...

The Future Is Now: AI Modernization Is Reshaping How Business Gets Done

The present business environment imposes stronger requirements on Australian organizations to match the fast-paced digital-first economy requireme...

Businesses losing an average of $493k from data integrity flaws

Managing data responsibly and effectively for the AI age can give organisations a strong competitive advantage, but many are failing to harness th...

Sell by LayBy