ABC Friends News

Will the ABC be Forgotten in the October Budget?

The Federal Government is preparing for what’s being described as “massive” spending in the October budget.

So will it throw a lifeline to the beleaguered ABC – and if not, why not?

budgetgraphicABCF

The Reserve Bank has given a green light to the government to borrow heavily to save the economy from getting any worse as a result of the pandemic.

Reserve Bank deputy governor Guy Debelle delivered a speech recently in which he said the government had room to borrow due to record low interest rates.

guy debelle

 

(RBA Deputy Governor Guy Debelle)

Guy Debelle said:

“The increase in debt is definitely manageable. Moreover, there is not, in my judgment, a trade-off between debt and supporting the Australian economy in the current circumstance.”

READ ABOUT THE SPEECH HERE

Restoring funding to the ABC is a good investment in the Australian economy.

In 2018, then ABC Managing Director Michelle Guthrie released details of a Deloitte Access Economic study that showed the ABC gave back $1billion to the Australian economy.

Michelle Guthrie said:

“Far from being a drain on the public purse, the audience, community and economic value stemming from ABC activity is a real and tangible benefit”

READ A “THE CONVERSATION” REPORT ABOUT THE STUDY

Screen Shot 2018-06-20 at 10.24.47 am

(Jon Faine with former ABC MD Michelle Guthrie)