Grattan: Governments must spend big to get us out of crisis

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The Grattan Institute has urged Australia’s various governments to loosen the purse strings and spend big to see Australia past the COVID-19 recession:

The Commonwealth has spent almost 9% of national output on stimulus, whereas no state except Tasmania has spent more than 2% of its own output.

The two biggest states, NSW and Victoria, have each spent little more than 1%.

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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.