Myefo budget update reveals huge election war chest but warns of economic uncertainty

From theguardian.com

The government has set aside an election war chest from $15.9bn in mystery spending in a mid-year budget update that warns of significant economic risks ahead. But despite the treasurer hailing an “incredible” set of job numbers, which shows Australia’s unemployment rate will fall comfortably below 5% next year, the government is holding off the task of budget repair until “economic recovery is secure”. “These gains are not yet locked in,” Josh Frydenberg said on Thursday as he announced the mid-year economic and fiscal outlook (Myefo). “The pandemic is still with us and we must continue to learn to ... (full story)