find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Academics back Labor's stimulus package

Academics back Labor's stimulus package

The Government's fiscal stimulus package prevented the Australian economy from falling into a deep recession and prevented a massive increase in unemployment, according to over 60 Australian…

The Government's fiscal stimulus package prevented the Australian economy from falling into a deep recession and prevented a massive increase in unemployment, according to over 60 Australian university lecturers and professors.

In an open letter released this week in the lead up to Saturday's federal election, professors and lecturers from universities across Australia confirmed their support for the coordinated policies of the Labor Government in the hope that Labor's economic achievements will be recognised by the Australian population.

In the letter, the signatories defended the Government's budget deficit which has been targeted by the Coalition in its election campaign.

"Just as a major corporation goes into debt to invest in its stock of capital, so does a government," the letter said. "Just as many householders have a debt to a bank or mortgage company, so does a government. A government has a budget deficit and a government debt, but it also has capital assets (roads, ports, better equipped, broadband etc)."

Professor of international finance law Ross Buckley, associate professor Sandra Egger and senior lecturer Gillian Moon of the University of New South Wales' faculty of law were amongst the signatories to the letter, which labelled the performance of the Australian economy as outstanding.

"We note that during a recession automatic stabilizers (increase in total unemployment benefit payments and decreased tax revenues) lead to an increased government budget deficit," the letter said. "In almost all the OECD countries there has been a massive increase in unemployment and in budget deficits. In Australia both have been trivial by comparison."

The signatories to the letter commended each stage of the Labor Government's fiscal stimulus package, including the payment of $900 which helped to boost confidence in the retail industry and the building education revolution and first home owners grant which boosted the construction industry and created thousands of new jobs.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Academics back Labor's stimulus package
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
Consultation
Oct 23 2017
Lawyers slam rushed consultation for SA repeat offenders bill
The Law Society of South Australia has expressed concern for a proposal to roll out new laws amendin...
IBA
Oct 23 2017
The pursuit of happiness in the law
A panel of legal experts have explored how to define success in the legal profession, and how lawyer...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...