if the worse happens, the government can always call an election for the lower house and for half of the senate and allow the people to voice their choice. Nothing more democratic than that.
I am not sure if there is already a bill that has been rejected twice by the senate that the government can use for the basis of a double dissolution. If there isn't, then I don't think there will be a double dissolution as it will take too long for the government to have a bill rejected twice by the senate to satisfy the constitutional requirements. In view of the seriousness of the economic carnage, we cannot afford to have a situation where nothing happens because of the impase in the senate.
A lower house election plus for half of the senate will suffice.
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