The 2020 Federal Budget. Big Budget Spending for a Post-Covid World.
“We’re back in black, oh yeah we’re BACK in BLACK. Its May, 2019. And Josh Frydenberg grins and tells us that he has ‘brought the budget back into surplus in the coming year” Not in the year that he was reporting on (2018/19), but in the year ahead - 2019/20. Looking back now, it now reminds me of watching The Western Bulldogs play Essendon just a few months after this statement was made – in August 2019. Essendon started brilliantly, kicking the first goal after just 20 seconds* The Cheer squad was singing - They are Back in Black Baby! Break out the limited-edition coffee mugs and toast their success! (Or Break out a cigar perhaps?) Well, we all know that you don’t determine the result of an AFL game after one minute. Nor do you proclaim the success of your financial forecasts in the moments after you announce them. But the treasurer was certainly not backwards in announcing just how successful they were going to be in the future. And by the end of the ...