Timothy Sumer

Katy Gallagher is the Minister for Finance, and she speaks with 7.30’s Sarah Ferguson about the government’s preparedness for a possible recession. Subscribe: ABC News In-depth takes you deeper on the big stories, with long-form journalism from Four Corners, Foreign Correspondent, Australian Story, Planet America and more, and explainers from ABC News Video Lab. Watch more ABC News content ad-free on ABC iview: For more from ABC News, click here: Get breaking news and livestreams from our ABC News channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitter: Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustralia... ( read more ) BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing Is the government prepared for a possible recession? This is a question that has been on the minds of many

Rising interest rates and unemployment won't be far from the minds of those who lived through Australia's last major recession in the 1990s. But in 2023, with a debt-laden nation paying off homes many bought at record high prices, rising rates mean a new type of misery. Australia's housing market has completely changed the nature of our economy. And as Alan Kohler reports, many of the old economic rules may no longer apply. Subscribe: ABC News In-depth takes you deeper on the big stories, with long-form journalism from Four Corners, Foreign Correspondent, Australian Story, Planet America and more, and explainers from ABC News Video Lab. Watch more ABC News content ad-free on ABC iview: For more from ABC News, click here: Get breaking news and livestreams from our ABC News channel: Like ABC News on Facebook: Follow ABC News on Instagram: Follow ABC News on Twitter: Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustrali