Government Overspending on Unprofitable Sectors Could Destroy Australia’s Wealth: Expert Warns

The prime minister defended the RBA’s monetary policy, adding the government has many schemes assisting households with cost of living. People cross a street in Melbourne's central business district in Melbourne, Australia, on Aug. 14, 2024. William West/AFP via Getty Images Prime Minister Anthony Albanese said that his government has launched several measures to tackle cost of living, but an expert warns that government spending can only help if directed at projects that can generate a positive return. Graham Young, executive director of the Australian Institute for Progress and pollster,...