For over a quarter of a century Australia has escaped recession. It is a remarkable achievement, close to a global record. Yet despite continuous growth, Australia scrambles to make ends meet. This is the eighth year of a national budget deficit.
So with a federal budget due on May 9th - The Policy Shop podcast asks - why does this wealthy nation find it so hard to balance the books, and what economic policies should Australia consider?
Australian Laureate Fellow in Economics at the University of Queensland, Professor John Quiggin and Honorary Professorial Fellow at the Melbourne Institute of Applied Economic and Social Research at the University of Melbourne, Professor Judith Sloan join the host, Professor Glyn Davis, Vice-Chancellor of the University of Melbourne.