Will the incoming government also try to decrease the budget deficit?
No, financial commentators; it was not a necessary action. It will worsen Australia’s increasing poor socio-economic circumstances.
The politics of atrophy ensures that Australians and their incoming government aren’t ready for the steps that need to be taken.
There are politico-economic reasons why I’m a permabear. We’re constantly stuffing up macro-prudential lending because we’re in serfdom to the FIRE sector.