The government of Australia economic policies is failing Australians

This has increase caused an increase in debt due to loss of employments. This has fur reaching effects in accounts of most institutions which those who are laid off have pecuniary transactions with.Most of those who are laid off are servicing loans or paying for goods or go which they got on credit now they natest afford to pay. The loans will accrue interest for the months they will non be serviced and most of them would be difficult to be repaid hence monetary institutions will report high ramble of loan default.Those who will address to pay might pay it over a long blockage so they shall pay it with more interest. Companies which have sold goods of on services will have to involve debt collectors who they have to pay commission which would be more than they had budgeted.Companies which are lying of staff are being knotted in calculations of benefits and other payments dues. They will also need to recalculate expenses to be incurred based on the staffs that are left such as representation expenses.The Australia government will loss on income tax and companies dealing with aid funds will pay more this financial year which would attain their books of accounts.If the government will not put on measures to lower the unemployment rate it shall affect accounting records of different economic sectors. The effects will be realized in this financial year and subsequent years depending on how different sectors shall be able to adapt.ReferencesThe Editor, 2009, Govt policies costing jobs, Available at http//www.wabusinessnews.com.au/en-story/1/71103/Govt-policies-costing-jobs-Turnbull