Budget a desperate appeal to spend and hire

The pandemic budget contains extraordinary measures to boost jobs, confidence and the economy. But hoping a nationwide COVID-19 vaccine will exist in a year is a gamble, writes Michelle Grattan.

Terrible budget numbers are a best-case scenario

The pandemic has blown a massive, lasting hole in Australia’s finances – but the numbers could get worse. Peter Martin explains.

Treasurer Josh Frydenberg will this week reveal the pandemic's hit to the economy. Photo: AAP/Lukas Coch

Australia heading for $185 billion deficit, jobless rate still to peak

Australia will suffer a $184.5 billion deficit as the coronavirus drives a wrecking ball through the economy, with the unemployment rate expected to hit 9.25 per cent within months.