Could we be about to see the federal government turn a silk purse into a sow’s ear? Their latest pronouncement on vaccination could do just that.

The government, with the assistance of the states and the acquiescence of a patient and compliant population, has managed to stem the worst effects of the global pandemic. They have done this by, in essence, closing the borders, injecting vast amounts of liquidity into the economy by subsidising jobs, and riding the resurgence of commodity prices. In large part, these have offset the disastrous effects of the pandemic on education and tourism.