Democracy Sausage with Mark Kenny: Debt, deficit, and disaster?

Abstract

On this special Democracy Sausage Second Serve Mark Kenny and Peter Martin discuss today’s economic update from the Treasurer and the impact of the corona-crunch on the nation’s future. The economic update given by Treasurer Josh Frydenberg today made for a sobering read, with net debt expected to rise to $677 billion by 30 June 2021, GDP down seven per cent in the June quarter, and unemployment expected to hit more than nine per cent at the end of the year. So has the coronavirus crisis led Australia into a debt and deficit disaster? And with the pandemic far from over, what does the future hold for Australians in this bleak economic climate? Joining Professor Mark Kenny to crunch the numbers is The Conversation’s Business and Economy Editor Peter Martin. Show more