Australian Fiscal Policy in the Aftermath of the Global Financial Crisis

Research output: Working paperDiscussion paper

12 Downloads (Pure)

Abstract

The 2012-13 Budget, which provides for an increase in taxes of $ 39 billion and a reduction in expenditures of $ 7 billion, is strongly contractionary, reducing aggregate demand by about 2 per cent. The government deserves praise for starting the process of fiscal consolidation in a possible election year. Still, given the low Australian government debt, there is no pressing need to restore an even budget within one year and a worsening of the economic crisis in Europe will make the budget unattainable.
Original languageEnglish
PublisherUWA Business School
Publication statusPublished - 2012

Publication series

NameEconomics Discussion Papers
No.11
Volume12

Fingerprint

Dive into the research topics of 'Australian Fiscal Policy in the Aftermath of the Global Financial Crisis'. Together they form a unique fingerprint.

Cite this