Friday, August 2, 2013

bad news on jobs, deficit and growth - The Australian

LABOR has dumped the key economic assumptions in former treasurer Wayne Swan's 11-week-old budget, warning of rising unemployment and slower economic growth as it revealed three years of deeper deficits amid a $33 billion revenue writedown.

As Kevin Rudd clears the decks for an election that could be called as early as this weekend, Chris Bowen moved to set the economic battlelines for the campaign, arguing that deep cuts would cause even slower growth and higher than forecast unemployment.
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