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Federal Treasurer admits Australia’s economic recovery is ‘not yet locked in’

Neil Mitchell
Article image for Federal Treasurer admits Australia’s economic recovery is ‘not yet locked in’

Treasurer Josh Frydenberg has admitted the success of the federal budget relies on Australia keeping COVID-19 under control.

Mr Frydenberg unveiled the big-spending budget, which includes $74.6 billion in new spending and tax breaks, last night.

But he acknowledged Australia’s economic recovery from the pandemic is not guaranteed.

“There will be new outbreaks,” he told Neil Mitchell.

“Australia’s recovery is not yet locked in.”

NEIL MITCHELL: “It’s out of your control, isn’t it? Your budget only works if our quarantine system works, if contact tracing works, if we keep the pandemic under some sort of control.”

JOSH FRYDENBERG: “Well you’re certainly right that this is primarily a health crisis with a very severe economic impact, Neil, and our ability to continue the momentum of our economic recovery does depend on our ability as a nation to successfully suppress the virus.”

Mr Frydenberg refused to reveal whether another round of JobKeeper would be considered if there is another serious outbreak of COVID-19 in Australia.

“That program was always a temporary measure,” he said.

“I’m not looking back. I’m looking forward.”

Press PLAY below to listen to Neil Mitchell question Josh Frydenberg about the big-spending budget

Neil Mitchell
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