Opinion

Federal budget: Josh Frydenberg and the right and proper thing to do

By Saul Eslake
Updated May 4 2021 - 7:16am, first published 5:30am
Josh Frydenberg will deliver another federal budget next Tuesday. Picture: Sitthixay Ditthavong
Josh Frydenberg will deliver another federal budget next Tuesday. Picture: Sitthixay Ditthavong

On September 24 last year, 12 days before he delivered the 2020-21 federal budget, treasurer Josh Frydenberg foreshadowed what he called a "recalibration" of the government's fiscal strategy to "match the circumstances we now find ourselves in." Aiming for budget surpluses big enough to eliminate net debt in the medium term was no longer appropriate, he said. On the contrary, continuing to pursue that objective would "be damaging to the economy" and "unrealistic."

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