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Today Australia officially went into recession for the first time since 1991, so I thought it would be good to revisit our recent Honest Government Ad about economic recovery. I rewatched it today and sadly it feels more relevant than when we first made it, back in may.
Recessions are wounds: they can leave a scar on an entire generation. And this one is far bigger than the 1991 recession (to put it in perspective: 1991 saw the economy shrink by 1.5%. Well, today Government announced the economy has contracted by 7% And it’s likely to continue to contract). What we need to get out of this with as few scars as possible is a leadership capable of putting ideology aside in favour of evidence-based policies. Whether you believe in MMT or New Deal policies, that means: massive spending to support workers, families, students and the vulnerable.
It is extremely concerning to instead see this Government turn to austerity: reducing welfare payments, cutting support for students and workers; and deregulation (cuts to the Environment and Biodiversity Conservation Act); and most worringly, investment in fossil fuels, with this “gas-led recovery” – which will literally get us all killed.
It is important for people to understand that the pain that will come from this approach is *not* an inevitable consequence of the pandemic; it is a result of political choices being made right now.
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