State governments buy a year of capex growth for $50bn

Via Deloitte:

Business investment looks to have been the hardest hit part of the Australian economy in 2020. The effects will linger over 2021 and 2022 – but the outlook has also improved.

Releasing the latest edition of Deloitte Access Economics’ quarterly Investment Monitor, Deloitte Access Economics partner and report lead author, Stephen Smith, said: “Local COVID-19 numbers remain small compared to other countries, the vaccine rollout is expected to start shortly, business confidence has improved, and the Reserve Bank has promised to keep interest rates at low levels for at least the next three years.

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