Scott Morrison is flying in the face of history with his fallacious claim, write Bob Hawke and Paul Keating auspol
It is a blatant denial of history for Scott Morrison to allege that the Labor Party cannot manage the economy when he knows the design and structure of the modern Australian economy was put in place exclusively by the Labor Party.
Through the flexibility engendered by these major structural reforms – the floating exchange rate absorbing the external shocks, the open financial markets, the reform of the tax system and the suppleness of an enterprise-based wages system – Australia has experienced an unbroken 28 years of economic growth. An outcome unprecedented in the developed world.Not one of these path-breaking structural changes was delivered by the Liberal Party.
Let’s examine what the Prime Minister declares he has on offer as an economic strategy for the next three years and beyond. As far as we can see, two things and two things only: a trickle-down economic policy where if the wealthy accumulate more wealth, some of it may trickle down to the workforce; and unfunded tax cuts five years away.
But it is now more than 20 years since the era of the Hawke and Keating governments. While we are proud of the achievements of our governments, the baton of reform is being grasped by the next generation of Labor leaders. Bill Shorten’s Labor Party presents the most comprehensive and well thought through agenda any opposition has provided to the Australian people.
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