Following yesterday’s fairy dust forecasts from the Australian Treasury, we get this today from The Australian:
A day after announcing $16.4 billion in savings to hit a wafer-thin $1.1 billion surplus this year, the Treasurer said the government was prepared to stimulate the economy if unemployment rose above budget forecasts.
“What we will choose is the economic settings which promote growth and jobs in our economy,” the Treasurer told ABC radio, when asked if he would start spending again if unemployment rose above 5.5 per cent.
So, with unemployment at 5.4%, there is every chance we can expect stimulus to commence next month. What a charade.