Since last month’s federal budget, the Centre for Independent Studies has lamented that the Coalition government of Prime Minister Scott Morrison has embraced the political left’s economic credentials as interventionists and big spenders.
Will Canberra’s historic spending blowout lead to an inflation surge, prompting higher interest rates? Will it just steal economic growth from the future in return for a temporary surge in the next year to 18 months?
Will the spending blowout in aged care, child care, NDIS rule out a balanced budget for another decade? Where are the pro-growth reforms, which seek to create the circumstances for long-term prosperity? Where are the productivity enhancing policies that would create permanent incentives to work and invest?
