Good interview with RBA Board Member John Edwards on Lateline last night, saying we need to change the way we perceive and talk about Australia and our economy. He says the current narrative is one of failure and imminent crisis, when in fact our story is one of extraordinary success. He debunks the notion that our debt has come from out-of-control government expenditure. We got into deficit for two reasons – one is increased spending to mitigate the effects of the GFC, after which spending then returned to the share of GDP its been for decades. The second reason is a drop in revenue from tax cuts. He says the governments own figures show this. abc.net.au/lateline/content/2014/s4032413.htm
Posted on: Wed, 25 Jun 2014 00:58:31 +0000
Trending Topics
Recently Viewed Topics
© 2015