Thursday, January 25, 2007
Howard & Costello - Economic mis-managers
John Howard's Government repeatedly claims to be great economic managers. That's just factually wrong. Here is what Bernie Fraser, former Governor of Australia's Reserve Bank, had to say yesterday:
"I think the Government has missed an enormous opportunity to use the good fortune of this commodities boom over the last five or ten years to make major improvements in our social and economic infrastructure. And I think that's the great pity of the last five, last ten years really, that this once in a lifetime experience of tremendous export growth - basically commodities with low inflation, big budget surpluses, good growth and all that - but we haven't converted that into improving our social infrastructure or our economic infrastructure. We've got problems in education, in health and we've got problems in power supply and transport facilities and the opportunity has been missed I'm afraid".
I urge you to read the full interview with Mr Fraser: http://www.abc.net.au/pm/content/2007/s1833106.htm
"I think the Government has missed an enormous opportunity to use the good fortune of this commodities boom over the last five or ten years to make major improvements in our social and economic infrastructure. And I think that's the great pity of the last five, last ten years really, that this once in a lifetime experience of tremendous export growth - basically commodities with low inflation, big budget surpluses, good growth and all that - but we haven't converted that into improving our social infrastructure or our economic infrastructure. We've got problems in education, in health and we've got problems in power supply and transport facilities and the opportunity has been missed I'm afraid".
I urge you to read the full interview with Mr Fraser: http://www.abc.net.au/pm/content/2007/s1833106.htm
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It is a real tragedy to think of the lost opportunities for the Australian economy and for Australians themselves when you consider how the Government has failed to take advantage of the resources boom to reinvest in areas which will ensure our long term prosperity, like education and skills.
Somebody needs to tell Howard and Costello that "good economic management" doesn't consist of simply being in power throughout a commodities boom and doing nothing with the economic opportunity of a lifetime!
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Somebody needs to tell Howard and Costello that "good economic management" doesn't consist of simply being in power throughout a commodities boom and doing nothing with the economic opportunity of a lifetime!
# posted by 
: 12:40 pm
: 12:40 pm << Home
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