Big picture must frame reform

In today’s The Australian
“However uncertain the future may be, what cannot happen will not happen. In Australia’s case, we cannot run large budget deficits forever. At some point, debt accumulation, combined with loss of confidence and external shocks, will force painful adjustments.”

About Henry Ergas

Henry Ergas is a columnist for The Australian newspaper and the inaugural Professor of Infrastructure Economics at the SMART Infrastructure Facility at the University of Wollongong. The SMART Infrastructure Facility is a $61.8 million world-class research and training centre concerned with integrated infrastructure solutions for the future. Henry is also Senior Economic Adviser to Deloitte Australia. Prior to these concurrent roles Henry worked as a consultant economist at NECG, CRA International and Concept Economics. Henry's previous career was as an economist at the OECD in Paris, where amongst other roles he headed the Secretary-General’s Task Force on Structural Adjustment and was Counsellor for Structural Policy in the Economics Department.
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3 Responses to Big picture must frame reform

  1. Alfonso

    Rumours that Tone is about to scrap the RET…entirely.
    If so the political rehabilitation of our welfare statist guilty Catholic PM has begun.
    We may have got this in return for the S18C betrayal.

  2. struth

    And one plus one equals two.

  3. Squirrel

    “….as if an indignant sense of entitlement would itself pay the bills and ward off the day of reckoning….” – this now widespread attitude is the absolute crux of the problem, and explains why we are surely doomed to follow Europe. The only politically viable alternative will be further imposts on the easy revenue raising targets – i.e. honest taxpayers – the rorts on the revenue and expenditure side will largely continue untouched.

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