The Federal Government is likely to continue it’s economic stimulus spending, in order to keep the economy afloat and to protect jobs, says Treasurer Wayne Swan.
Mr Swan told ABC Radio’s AM program that withdrawing stimulus spending would threaten jobs.
“If we had not put in place this stimulus Australia would be a very different place, with much higher employment and many more business failures,” he said.
The comments come just a few days after Treasury advised the Government to continue with the stimulus spending, warning that pulling back the funds would cause a spike in unemployment and set the economy back.
However, Opposition treasury spokesman Joe Hockey told NewsRadio that the Government had already put the country into too much debt and should put a stop to the reckless spending.
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