Former Reserve Bank governor Bernie Fraser has warned Labor’s Future Made in Australia Act was likely to waste taxpayers’ money, as another leading economist labelled the policy “depressing”.
“My observation over decades is that when governments try to pick winners … they have a pretty poor record,” Mr Fraser told The Australian Financial Review.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
