Politics with Michelle Grattan
News:Politics
This week's update shows an improvement on the numbers in the budget that was delivered only 10 weeks ago. The prospects for growth and employment have been revised upwards. While the forecast for the deficit remains massive, at nearly $200 billion, it has been revised down.
But even as we return to some sort of normality, it will be many years before the economy resembles its pre-COVID self. And the Parliamentary Budget Office predicts the federal budget won't leave its deficit behind in this decade.
Treasurer Josh Frydenberg joins the podcast to discuss Thursday's budget update and the economy's future.
Frydenberg acknowledges the road back will be tough, for the economy and the budget.
Given the "huge economic shock" of COVID, the "unprecedented spending" will leave us in the red for a long time. "There will be a very challenging fiscal environment for years out of this crisis."
But the economic future looks vastly better than in the hairy initial days of the COVID crisis.
"Very early on it was uncertain, and many of us feared the worst."
"Treasury told me early on in the pandemic that the unemployment rate could reach 10%, and, but for Jobkeeper, reach 15%. That's a very different world to the one that you and I face today."
"Programmes like JobKeeper, the cash flow boost, the JobSeeker Coronavirus Supplement, the $750 payments, now $250 payments to pensioners and to carers and others on income support have very much helped pull Australia through this challenging time.
"Australians go into Christmas with real cause for optimism and hope."
Scott Morrison defends Katherine Deves (again), but slips up on surgery detail
Dave Sharma, Allegra Spender, and Kerryn Phelps on the contest for Wentworth
On the rate rise, Albanese’s launch and what a Frydenberg loss would mean for the Liberals
Economist Saul Eslake on why Reserve Bank needs to raise rates next week
Ray Hadley’s shouty assault on Albanese; the intractable Solomons issue; and the wider play of Deves
Andrew Wilkie invites independent candidates to call him for a chat about approaching a hung parliament
Joe Hockey on Trump, Biden, and the federal election
Morrison suggests voters judge him as they would their dentist
Josh Frydenberg is optimistic about wage growth
Word from The Hill: Next step for Morrison is visit to governor-general
Politics with Michelle Grattan: Jim Chalmers on the budget Labor can’t oppose
Sarah Ferguson on reporting from Ukraine
Labor will give human rights award in memory of Kitching
Stay calm, petrol is headed down, budget is improving – economist Chris Richardson
Be careful what you say about your opponent’s ‘makeover’
Mark Maund on improving our resilience to deal with flood crises
Word from The Hill: Subs, floods and people saying it’s ‘time to give someone else a go’
Russian specialist Matthew Sussex on Putin’s potential to start wider war
Assistance for Ukraine and Peter Dutton’s fundraising
Australian politics in an uncertain world
Create your
podcast in
minutes
It is Free