Shadow Treasurer, Chris Bowen, has admitted that Australia’s high level of household debt and low wages growth are key economic risks. He adds that Labor’s proposed $200 billion package of tax increases is vital to provide the nation with a “fiscal buffer” in the event of a global economic downturn. From The AFR:
Chris Bowen said… Labor must implement all its $200 billion-plus in pledged tax rises to arm the federal government with a bigger fiscal “buffer” to counteract any global downturn…
