This three-point plan can restore respect for taxpayers’ money
The three major announcements by the two major parties so far this election year perfectly encapsulate everything that is wrong with Australian politics
The past three years have seen the fastest surge in government spending outside of a recession since Gough Whitlam. We all understand this has fuelled inflation. And we have all been warned it undermines our ability to respond in future crises.
But there’s a graver consequence. It’s a key reason we’re poorer than we could have been. And why, if we don’t take urgent corrective action, we may one day fulfil Lee Kuan Yew’s warning that we will become the poor white trash of Asia.
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Steven Hamilton is assistant professor of economics at George Washington University and visiting fellow at the Tax and Transfer Policy Institute at the ANU.
