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We wasted a $400b windfall, and now we’ll all have to pay

We wasted a $400b windfall, and now we’ll all have to pay

An audit of federal finances finds Australia has never seen rivers of gold like this, but the hangover will be brutal.

Paul Keating famously declared that you change the country when you change the government. Yet, while that might have been true when he fought Fightback! a third of a century ago, these days elections are solely about style rather than substance: our politicians stopped challenging us decades ago.

Our oppositions complain loudly but only pretend to oppose, essentially adopting the policies of the government of the day and relying on its unpopularity to win power.

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Chris Richardson
Chris RichardsonEconomistChris Richardson is an independent economist.

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Original URL: https://www.afr.com/link/follow-20180101-p5ljjv