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Golden Goose Men Sneakers stimulus

Jun 25 '16 | By galigegoca | Views: 121 | Comments: 0

Inquiry told stimulus 'destroying our savings' Golden Goose Women Sneakers

A Senate inquiry set up to evaluate the Federal Government's $42 billion stimulus package has heard from some of Australia's leading economists.

The Government hopes that the inquiry will vindicate its response to last year's collapse in world financial markets.

But the Opposition is looking for signs that the package is too big and needs to be wound back ahead of time.

RMIT economics Golden Goose Men Sneakers professor Steven Kates was challenging that view in front of the Senate's economics committee.

Professor Kates says the Government got it wrong from the start.

"You should not have this blanket expenditure as a stimulus, 4 per cent of GDP which is an unbelievable amount of money," he said.

"That will not create growth and in fact wastes resources Golden Goose Sneakers so comprehensively in ways that will they are destroying our savings.

"They are going to push up interest rates, they are going to push up taxation expenditute and may yet push up our inflation rate."

Professor Kates concedes the package has saved some jobs, but has questioned Golden Goose Sneakers Online the cost.

"I think in the short-term, the unemployment rate might have gone to 6.1 instead of 5.8 Golden Goose Sale had there not been a stimulus," he said.

"I think it has saved jobs, but I think that the cost of saving those jobs has been so dispropportinate to any of the good that it will do that I think it is a tremendous policy mistake to have done this."'Bigger the better'Australian National University economics professor Andrew Leigh takes a different view.

He argues that a large amount of extra Government spending was needed to prevent the long-term problems caused by an increase in unemployment.

"I think it's important to bear in mind how slowly economies tend to recover from recession," he said.

"The unemployment rate of the late 80s wasn't again achieved until the late 1990s and that scarring cost of unemployment is pretty substantial.

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