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



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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.” The government’s new strategy would focus on providing “temporary, proportionate and targeted” (but nonetheless substantial) fiscal support to private sector jobs and investment, as well as allowing the “automatic stabilisers” (tax receipts and cyclically…

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