Jim Chalmers rips up Paul Keating’s economic playbook
The treasurer is publicly breaking from Labor’s previously claimed belief in the great Bob Hawke-Paul Keating market-based economic model that helped deliver 30 years of national prosperity.
Jim Chalmers is ripping up the economic textbook. The Labor treasurer is embracing a bigger role for government to direct capital and allocate resources in Tuesday’s federal budget.
Budget spending will inevitably climb higher and tax levels are sure to follow.
John KehoeEconomics editorJohn Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
