The International Monetary Fund and economists say the proliferation of the federal government’s so-called “off budget” funds to invest in the energy grid, industry and housing risk adding to inflation pressures.
Labor took to the election a pledge to set up a range of energy and social infrastructure funds that will be seeded with borrowed money and add about $50 billion to government gross debt over coming years.
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John 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
