Instead of talking down the strong economy and bottomline inherited from the Coalition, the Treasurer needs to hold his nerve against the Labor left and focus on bringing the budget to balance.
For decades, governments and citizens across the western world have been taught to think every problem thrown at them can be solved with a big splash of cash.
But inflation economics is fundamentally different. In an inflationary environment like the one Australia faces today, if governments throw money at the problem, they make it worse.
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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.
