Treasurer Wayne Swan’s promise that he will fix Labor’s $120 billion black hole in the May Budget sets a new standard for shamelessness. Mr Swan has presided over $160 billion in debt and promised over 200 times to deliver a surplus, only to fail. Given his failure to deliver a “rolled gold…iron-clad…failure is not an option…guaranteed” [...] Continue reading » » »
Australia’s economic future
If , like me, you believe the next election will turn on who is best placed to undertake the enormous task of managing our economy back to health, then consider the following: The Gillard/Rudd/Swan team has delivered the four biggest budget deficits on record, with a cumulative total of $167 billion (THAT’S $167,000,000,000), including a [...] Continue reading » » »
Road to economic surplus is a minefield
In its editorial this morning (10 Feb 2012) on Australia’s economic future, The Examiner rightly highlights the risks that could arise from any number of adverse global scenarios. But the suggestion that the Coalition should commit to a future economic strategy now, is constrained by economic uncertainty. How can any alternative government confidently map out [...] Continue reading » » »
European debt a bad baseline for Australia as Greece default looms
The Centre for Economics and Business Research (CEBR) says Britain is already in recession, as nine European nations had their sovereign debt ratings cut over the weekend. The following comment from Standard & Poor’s will send shivers down the backs of European Finance Ministers: “The policy initiatives that have been taken by European policy makers in recent weeks [...] Continue reading » » »
