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Federal Budget to Be a ‘Titanic Effort’: Aussie PM

Business alex 1months ago (09-26) 17Views

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Federal Budget to Be a ‘Titanic Effort’: Aussie PM

The federal budget will be “unprecedented” in Australia’s history as the federal government does some “very heavy lifting” to ensure the economy can emerge successfully from the COVID-19 economic crisis, Prime Minister Scott Morrison says.

Morrison says the government will continue to step up with targeted spending to help increase the number of jobs.

“It’s going to be a great budget. It’s going to be a budget that’s going to have the most unprecedented investment in Australia’s future,” the PM told reporters in Adelaide on Sept 26.

“It will be a titanic effort that we’re involved in to ensure that this country can get back on the growth path that we want to be on.

“That means we’re going to have to do some very heavy lifting in this budget and that comes at a significant cost.”

The government on Friday released the final budget outcome for 2019/20, which revealed the coronavirus pandemic and deepest recession since the 1930s had turned a forecast $5 billion surplus into an $85.3 billion deficit.

It was also in stark contrast with the midyear economic review released in December as the government pumped billions of dollars of support into the economy and tax revenues dived.

Treasurer Josh Frydenberg said Australia had approached the global pandemic from a position of economic strength.

“Yes, the hole in the Australian economy is significant. Yes, the road back will be long, bumpy and hard,” he told reporters in Canberra on Friday.

“But we have performed so much better than nearly every other nation in the world.”

The 2020/21 budget will be delivered on October 6 and Morrison said he, the treasurer and Finance Minister Mathias Cormann had been over every dollar to ensure all the government’s spending was “targeted” and “proportionate”.

“It’s designed to ensure Australia comes out of the COVID-19 recession with thousands, indeed millions of jobs,” the prime minister said.

Tim Dornin in Adelaide


Focus News: Federal Budget to Be a ‘Titanic Effort’: Aussie PM

NYPD Spying Case a ‘Wake-Up Call’ About Chinese Infiltration in US, Local Tibetans Say

NEW YORK—The arrest of an NYPD officer for allegedly spying on local Tibetans for Beijing should serve as a “wake-up call” for U.S. officials about the depth of Chinese espionage in the country, local Tibetan activists said. Baimadajie Angwang, an ethnic Tibetan and naturalized U.S. citizen, had worked at the NYPD’s 111th Precinct in Queens, and is also an Army reservist holding a “secret” security clearance. The 33-year-old was arrested on Sept. 19 on four charges, including acting as an illegal Chinese agent, and faces up to 55 years prison if convicted. Angwang’s arrest was hardly a surprise to the ethnic Tibetans in New York City who had prior contact with him. The Tibetan Community of New York and New Jersey (TCNYNJ), a New York-based nonprofit established in 1979, said…

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