Calls for a universal basic income grow louder

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The Morrison Government has flagged that it will soon announce a third round of stimulus to prevent the Australian economy from sliding into a depression:

Tenants will be given emergency help when they lose jobs as a result of forced shutdowns, while small employers will also gain assistance with leases, taxes and bills they cannot pay.

Banks are being asked to defer more loan repayments for household and business customers in financial distress, going beyond existing relief for mortgages on owner-occupied and investment mortgages.

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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.