Dissecting ScoMo’s record breaking stimulus

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Over the weekend, the ABC presented data showing that the Morrison Government’s coronavirus stimulus package comprehensively dwarfs the Rudd Government’s GFC stimulus:

This chart shows two decades of Commonwealth spending (past and forecast), including both stimulus plans…

The first stimulus, just over 11 years ago, was Australia’s response to world markets collapsing amid the GFC.

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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.