National Economic Panel



ESA National Economic Panel Polls





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Author's Name: Danielle Wood
Date: Mon 10 May 2021

Danielle Wood

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Danielle Wood

Danielle is the CEO of the Grattan Institute. She has published extensively on economic reform priorities, budget policy, tax reform, generational inequality and reforming political institutions. She is a sought-after media commentator and speaker on policy issues.

Danielle previously worked at the ACCC, NERA Economic Consulting and the Productivity Commission. She holds an Honours degree in Economics from the University of Adelaide and Masters degrees in Economics and Competition Law, from the University of Melbourne.

Danielle is the National President of the Economic Society of Australia and co-founder and former Chair of the Women in Economics Network.

Responses (1)

The Federal Budget May 2021

Poll 46

"On May 11, the government delivered a budget designed, in the Treasurer's words, to 'secure Australia's economic recovery and build for the future'.  What grade would you give the budget given that objective, A, B, C, D, E, F?"

Photo credit Wes Mountain/The Conversation, CC BY-ND




I think a 'B' reflects the significant steps in the right direction this budget takes - The shift in fiscal strategy to prioritise bringing unemployment down below 5%. This reflects the economic reality that monetary policy is (largely) out of steam and we need fiscal policy to drive the recovery. It's still not enough to get real wages growing again over the next four years according to the Treasury forecasts, but certainly better for the recovery than an austerity budget. - More spending on social services where it is desperately needed - Aged Care, mental health, childcare and women's safety are all areas where services have been short-changed for too long. The government hasn't gone the whole hog on some of the big structural reforms recommended in these sectors, but it is still a significant step forward on recent budgets. - More money for vaccine procurement and logistics - getting the population vaccinated as quickly as possible and re-opening borders is crucial for the recovery. The budget falls a bit short on the 'build for the future' part and the lack of any meaningful measures to address climate change marks it down.