Building backed in COVID survey
Some of Australia’s top economists have backed boosts to JobSeeker and social housing over tax cuts.
Over 40 economists were tapped for the new Conversation-Economic Society of Australia pre-budget survey.
They were asked to rate 13 options for their perceived effectiveness in boosting the economy over the next two years.
The options included boosting JobSeeker, paying wage subsidies beyond the JobKeeper scheme, simple cash payments to households, spending on major infrastructure, bringing forward planned personal income tax cuts, and company tax cuts.
The most popular option was endorsed by 55 per cent of the economists - boosting spending on social housing.
The experts say that this would both provide work for the building industry and help alleviate homelessness.
Permanently boosting JobSeeker, previously known Newstart, was the second most preferred option, supported by 51 per cent of respondents.
With no real increase in the payment since 1993, leaving many on it in poverty, the economists say ever cent poured down this line will be spent, not saved.
More funding for education and training was the third most popular, supported by 45 per cent of respondents.
Continued wage subsidies were supported by 35 per cent of the surveyed economists, while 29 per cent backed an expanded investment allowance.