‘Rise’ in unemployment expected as Australia’s economy slows

S&P Global Ratings' Anthony Walker says as the economy slows, there will be a “rise” in unemployment. Mr Walker told Sky News Australia that the government’s tax take will “start to weaken”. The looming federal budget will need to strike the right balance between providing cost of living relief and not loading up Australian consumers and businesses with too much extra cash. Excess cash could trigger a spending spree in the September quarter. From a fiscal perspective, Australia’s credit rating remains AAA.