‘No ideological constraints’ during an economic crisis, says Frydenberg
Treasurer Josh Frydenberg has said the government’s stimulus spending will shoulder the country with debt for “years to come” but said Australia was in a better position than other countries such as the United Kingdom and United States to carry the debt.
His comments come after the goverment’s historic $130 billion JobKeeper wage subsidy scheme passed both houses of parliament last night.
“The debt will be there for years to come, there’s no doubt about that but we make no apologies,” Mr Frydenberg said on ABC’s Radio National this morning.
Mr Frydenberg pointed out that credit rating agency Standard & Poor’s yesterday reaffirmed Australia’s AAA credit rating, as evidence the Morrison government was spending responsibly.
“So, we do know our responsible fiscal management has put us in a position to manage this crisis. But we don’t want to be spending one day longer than necessary,” Mr Frydenberg said.
“He said to me that during times of economic crisis, there are no ideological constraints. And I think that’s right.”
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