The ‘R’ word: Are Australians really getting poorer?
Is it the recession you have when you’re not having a recession?
- Tory Maguire
- The Age
With an election looming, treasurer Josh Frydenberg is just weeks away from delivering his first, and possibly last, federal budget.
Last week, OECD data revealed that the Australian economy has fallen into a ”per-capita recession” for the first time since 2006, with global and Australian growth predicted to slow even further.
The announcement prompted scepticism from critics.
Ross Gittins called it a scare tactic – that any recession qualified by an adjective is not the real deal.
With wage growth flatlining and housing prices beginning to…