BOLD moves by the Government and RBA have saved Australia from 10 per cent unemployment, Treasury Secretary Ken Henry has said.
Dr Henry says the Government took "extraordinary" action in past months to cushion the nation from the global financial crisis.
The characteristics of the current recession are particularly nasty, he said.
But without fiscal stimulus packages, and monetary policy adjustments, the unemployment rate would have been on track to peak at 10 per cent, rather than the 8.5 per cent rate forecast by Treasury for 2010-11.
More extraordinary is Henry's overtly political behavior. If he want's to be Treasurer he should run for parliament.
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