Australia’s economy ‘totally driven’ by government spend

Australian Industry Group Chief Executive Innes Willox says Australia’s economy is being “driven totally by government spend” at the moment. Treasurer Jim Chalmers has delivered the government’s Mid-Year Economic and Fiscal Outlook (MYEFO) for 2024-25. The Treasurer revealed the budget deficit, at $26.9 billion, is $1.3 billion smaller than previously expected.