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Via Morgan Stanley:
“With reduced budget forecasts and increased bushfire spending, the Government would need to move well into deficit to provide a meaningful income tax stimulus at the May Budget.”
“We have not detected a shift in messaging consistent with this, and so think a smaller scale stimulus consistent with broadly balanced budgets is more likely at this stage.”
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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