The statement from Mr Chalmers came after the release of the report, which is forecasting below-trend growth of 2 per cent in 2019-20 and 2.4 per cent in 2020-21 – well below the government’s mid-year budget forecasts. 

With Deloitte having considered that “the nation’s growth won’t lift all that much from today’s decade low”, it has predicted that in turn, unemployment levels won’t drop and wages won’t improve through 2020. 

“The economy was already floundering under Scott Morrison and Josh Frydenberg before the fires hit, and now this new report says things won’t get much better this year for Australian workers and families,” the MP commented. 

According to Mr Chalmers, “Weak economic growth like we are seeing is the inevitable consequence of a government with a political strategy but not an economic plan.”

“This is what happens when a Liberal government in its seventh year spends all its time spinning, pork-barrelling and playing politics instead of actually coming up with a plan to meet the big challenges in the economy.”

nestegg has reported on the major findings from Deloitte here.

The response from the MP comes after the report likened the government’s account surplus ideology to dating Miley Cyrus.

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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