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Do we need Taylor Swift back to save the Australian economy?
Jim Chalmers is pretty eager to point out that Swifties spending didn’t keep Australia from a recession.
He says the popstar is welcome back (but he’d prefer it if she didn’t leave Brisbane off the itinerary next time).
Overall he says discretionary spending (so buying things that aren’t deemed essentials) only grew 0.1 per cent over the whole year.
“I think that’s a pretty stark reminder of the pressures that people are under,” he said.
“Yes, there was someone off spending. Yes, Taylor Swift was very popular when she was here. And those concepts were incredibly well attended.
“But overwhelmingly the story of consumption, our economy, is people focusing on the absolute essentials. And we saw that in the national accounts too.”
* I would personally love it if Taylor Swift came back. My bank account, not so much.