Invest
Government urged to be bold in economic recovery
The Morrison government is being urged to use the COVID-19 pandemic to be bold and deliver long-term economic and social benefits to secure Australia’s recovery from its first recession in almost three decades.
Government urged to be bold in economic recovery
The Morrison government is being urged to use the COVID-19 pandemic to be bold and deliver long-term economic and social benefits to secure Australia’s recovery from its first recession in almost three decades.

CEDA chief executive Melinda Cilento pointed to the effectiveness of strategies during the pandemic such as childcare subsidies, support for aged care and housing policies, which she opined should be extended for the duration of the recovery.
“Australia remained resilient by taking bold steps on health and the economy – 2021 will be no different,” Ms Cilento said.
She also pointed to the importance of the vaccine rollout, with a win on the health front meaning the Australian economy would be in a healthier position than much of the world.
“In 2021, everything will flow from this, especially as governments wind back income support, such as JobSeeker and JobKeeper, that kept much of the economy afloat last year,” Ms Cilento said.

The government should not be afraid to provide continued support to the hardest-hit industries and individuals to support jobs and incomes, Ms Cliento judged, adding that ensuring the economy is not derailed is key.
Ms Cilento also urged the government to be bold and invest in new sectors, including moving Australia towards net zero emissions.
“Climate change should be front of mind, given its business, economic and social significance, as well as the global policy shifts driven by the new Biden administration in the United States,” Ms Cilento said.
Another theme is the need to address inequality, with lower-paid roles notably bearing the brunt of job losses in many nations.
“To address inequality in Australia, a permanent increase to the rate of JobSeeker is long overdue,” Ms Cilento said.
“It will do much to support the recovery, and as Reserve Bank of Australia governor Philip Lowe has said, it is a fairness issue.”
About the author

About the author


Economy
Economist calls for July RBA rate cut following inflation data
An economist from State Street Global Advisors has called for the Reserve Bank of Australia to cut interest rates in July following today's Consumer Price Index data for June. Read more

Economy
GDP data prompts economist to predict faster RBA rate cuts
Australia's latest GDP growth data has come in significantly below expectations, prompting an economist to suggest the Reserve Bank may need to ease monetary policy more aggressively. Read more

Economy
Global markets face turbulent start amid tariff concerns, but outlook remains cautious
Global equity and bond markets have experienced a turbulent start to 2025, primarily due to concerns that a potential tariff-driven trade war could heighten inflation and recession risks. Read more

Economy
RBA may cut rates faster if GDP data disappoints, economists say
The Reserve Bank of Australia may cut interest rates more quickly if next week's GDP data disappoints, economists said following today's consumer price index data for May. Read more

Economy
RBA delivers widely expected rate cut as inflation optimism balances global uncertainty
The Reserve Bank of Australia has cut the cash rate by 25 basis points, delivering on widespread market expectations while signalling a clearer directional shift towards less restrictive monetary ...Read more

Economy
Economist warns strong jobs data may delay further RBA rate cuts
Strong employment growth in April has put expectations for multiple interest rate cuts at risk, though upcoming economic data may clarify the need for lower rates, according to State Street Global ...Read more

Economy
Australian inflation continues downward trend, nearing RBA target
The Australian Bureau of Statistics (ABS) has reported that the Consumer Price Index (CPI) rose 2.7 per cent in the year to August, down from 3.5 per cent in July and 3.8 per cent in June. Read more

Economy
UK markets poised for gains after election, global geopolitical risks remain
Chris Iggo, Chief Investment Officer at AXA Investment Managers, has provided an optimistic outlook for UK markets following the recent general election, while cautioning about ongoing global ...Read more

Economy
Economist calls for July RBA rate cut following inflation data
An economist from State Street Global Advisors has called for the Reserve Bank of Australia to cut interest rates in July following today's Consumer Price Index data for June. Read more

Economy
GDP data prompts economist to predict faster RBA rate cuts
Australia's latest GDP growth data has come in significantly below expectations, prompting an economist to suggest the Reserve Bank may need to ease monetary policy more aggressively. Read more

Economy
Global markets face turbulent start amid tariff concerns, but outlook remains cautious
Global equity and bond markets have experienced a turbulent start to 2025, primarily due to concerns that a potential tariff-driven trade war could heighten inflation and recession risks. Read more

Economy
RBA may cut rates faster if GDP data disappoints, economists say
The Reserve Bank of Australia may cut interest rates more quickly if next week's GDP data disappoints, economists said following today's consumer price index data for May. Read more

Economy
RBA delivers widely expected rate cut as inflation optimism balances global uncertainty
The Reserve Bank of Australia has cut the cash rate by 25 basis points, delivering on widespread market expectations while signalling a clearer directional shift towards less restrictive monetary ...Read more

Economy
Economist warns strong jobs data may delay further RBA rate cuts
Strong employment growth in April has put expectations for multiple interest rate cuts at risk, though upcoming economic data may clarify the need for lower rates, according to State Street Global ...Read more

Economy
Australian inflation continues downward trend, nearing RBA target
The Australian Bureau of Statistics (ABS) has reported that the Consumer Price Index (CPI) rose 2.7 per cent in the year to August, down from 3.5 per cent in July and 3.8 per cent in June. Read more

Economy
UK markets poised for gains after election, global geopolitical risks remain
Chris Iggo, Chief Investment Officer at AXA Investment Managers, has provided an optimistic outlook for UK markets following the recent general election, while cautioning about ongoing global ...Read more