After decades of low inflation and positive growth, Australia faces an economic storm that feels unprecedented.
A dangerous combination of persistent, above-target inflation, sclerotic economic growth, an unprecedented collapse in living standards and an economy where aspiration looks like a luxury good.
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Angus Taylor is Shadow Treasurer. This is an edited excerpt from his Warren Hogan Memorial Lecture given at the University of Sydney on Wednesday evening. Connect with Angus on Facebook and Twitter.
