A look back at Australia's economic situation in July 2019, with stagnant economic growth, rising underemployment, and a sluggish economy.
It was a very different world in July 2019 . Scott Morrison’s Coalition had just won an election against a Labor Party proposing radical tax change. Economic growth was plodding along below its long-term average at around 2.75 per cent. Wages growth was stagnant. There was rising underemployment. In that “never satisfied” way of politics and economics that sounds a little weird to 2023 ears, the inflation rate at the time of just 1.
3 per cent was seen as a bad thing: a sign of the sluggishness of the economy, not just here but around the world.The new opposition leader, Anthony Albanese, rose to speak in the House of Representatives on July 2, 2019 to debate the legislation for, which would deliver relief to lower-income Australians – and even bring the second one forward three years – but not the stage three proposal. “We on this side of the House are talking about bigger tax cuts sooner,” Albanese saidwere the most expensive and radical chang
Australia Economic Situation July 2019 Economic Growth Underemployment Sluggish Economy