Bernard Hickey suggests:- Sponsor Promotion -There is no serious justification for a fiscal tightening that has driven an already stressed economy into a deeper retail and construction recession. We can’t wait for interest rate cuts to take effect if ever they would in an economy suffering collapsing confidence. The urgent challenge now is to stop the economy haemorrhaging any more before it turns more sinister. The damage to low-income household balance sheets has been immense already, but more of the same policy is unthinkable. Overlapping abatements mean that families can face up to a 96% effective marginal tax rate over long income ranges.