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Yesterday, Social Services Minister, Christian Porter, fronted the National Press Club where he handed down a PWC report warning that without further action, the annual $160 million welfare bill could spiral out of control to a massive $4.8 trillion:
“The situation where you have just on half and potentially more households drawing from the system than contributing to it is, again in my observation, like a snake eating its own tail”…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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