The Australian Prime Minister has given stern warning about their dropping economy which could easily cause a recession under Labor government. Scott Morrison was addressing at AFR business summit where he said the economy has become weaker and to handle this they may be increasing the taxes just like the country handled its previous recession few decades ago. There were tax hikes last year for the big businesses and no changes will happen in them, he added.
Scott Morrison also expressed his dissatisfaction with Bill Shorten, opposition leader and the combined decision of dropping some of the taxes. Chris Bowen, Australian Shadow Treasurer said the Prime Minister has become highly irresponsible by speaking about the possibility of recession. The prime minister has no idea about his own economic policies who has been desperately speaking about recession, Bowen added. The last recession in the country was during the 1990’s where there was much decline in the economy.
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