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ScoMo kicks recovery into overdrive

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

The Prime Minister has unveiled his plan to boost the recovery through deregulation and massive infrastructure spending. Over $100 billion of economic activity has been lost this year, while the federal budget is set for “record deficits” this year and next year due to massive stimulus spending and revenue hits. “This will require us to recalibrate our fiscal strategy,” Prime Minister Scott Morrison said.

“Such expenditure, where carefully planned and controlled, will support growth and it will boost confidence. But we must be extremely cautious about our expenditure, especially as we navigate our way back from the record fiscal supports now in place.” Mr Morrison announced a priority list of 15 major projects worth $72 billion in public and private investment that are on the “fast-track for approval”, including an inland rail link from Melbourne to Brisbane, an extension to the Olympic Dam in South Australia, and emergency town water projects in NSW.

The rest of this article can be found at investordaily.com.au.

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