World-Class Balancing Act
Money Magazine Australia|November 2020
The numbers look scary, but Australia is comparatively well off when it comes to national debt
Benjamin Ong
World-Class Balancing Act

The amount of money, in Australian dollar terms, that the federal Treasury is unleashing into the economy comes to $98 billion in “response and recovery support”, including $25 billion under the Covid-19 response package and $74 billion under the JobMaker plan.

This is “to responsibly deal with the greatest challenge of our time” and “rebuild our economy and secure Australia’s future … to ensure the Australian economy recovers strongly by targeting additional temporary support measures to boost household incomes, bring forward business and infrastructure investment activity, and drive the unemployment rate back down”.

There’s more money for every sector of the economy – well, almost, as “winners and losers” (the mainstay of annual budget reveals) pepper the headlines. Can’t please everyone, hey?

This story is from the November 2020 edition of Money Magazine Australia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the November 2020 edition of Money Magazine Australia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM MONEY MAGAZINE AUSTRALIAView All
Is the public market shrinking?
Money Magazine Australia

Is the public market shrinking?

Australia needs a healthy stock market to give companies access to funds and to allow retail investors to build wealth.

time-read
4 mins  |
March 2024
India: three steps to transformation
Money Magazine Australia

India: three steps to transformation

Massive investment and extensive reforms turbocharge the economy.

time-read
4 mins  |
March 2024
The ballet of business
Money Magazine Australia

The ballet of business

Changing direction, products, models and marketing is a hard task for a business. We chart what it takes to turn a business around, plus profile four successful pivots.

time-read
7 mins  |
March 2024
Save money and the planet
Money Magazine Australia

Save money and the planet

Could the high cost of living give us the incentive we need to reduce how much water and energy we use or waste? These eco-friendly household tips will help you do just that.

time-read
4 mins  |
March 2024
AI adoption is the new black
Money Magazine Australia

AI adoption is the new black

Artificial intelligence is set to reshape the commercial world, and small enterprises can’t afford to miss the boat.

time-read
3 mins  |
March 2024
Spam attack! Murky laws jam our inboxes
Money Magazine Australia

Spam attack! Murky laws jam our inboxes

Unwanted marketing material is one of the pain points of modern life.

time-read
5 mins  |
March 2024
From rags to riches in style
Money Magazine Australia

From rags to riches in style

Rich Tran sported a bowl cut until he was 14 years old and had no intention of becoming a hairdresser.

time-read
6 mins  |
March 2024
New work deals are killing the 'old' office
Money Magazine Australia

New work deals are killing the 'old' office

The Covid pandemic and the subsequent lockdowns accelerated the trend to more people working from home. It was a mixed experience.

time-read
4 mins  |
March 2024
Points taken: the truth about rewards
Money Magazine Australia

Points taken: the truth about rewards

Can hopping between credit cards really boost your frequent flyer haul and give you cheap or free travel - or is it doing more harm than good behind the scenes? Money puts it to the test.

time-read
3 mins  |
March 2024
Shortcuts to own a home
Money Magazine Australia

Shortcuts to own a home

Innovative ideas with a focus on low costs and sustainability could help solve the housing crunch.

time-read
4 mins  |
March 2024