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Economy

Treasurer Frydenberg says he is not worried that we are saving rather than spending our budget tax cuts. His goal was merely to “put more money in pockets”. Lukas Coch/AAP

GDP update: spending dips and saving soars as we stash rather than spend our tax cuts

Spending growth has fallen to financial crisis lows. Per person, economic growth and spending has gone backwards. Josh Frydenberg isn't ruling out action in the pre-Christmas budget update.

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