.

THE past year was when austerity dominated Federal Government policy.
May and December were really very low points in Australian politics in 2015.
Due to former Treasurer Joe Hockey’s radical spending cuts in May followed by the current Treasurer Scott Morrison’s cuts in the December budget update, the Australian economy is now set for a long period of underemployment and reduced incomes for middle and lower income groups.
Both Joe Hockey and now Scott Morrison have wrongly defined Australia’s economic problem as government spending and advocated the need to make deep budget cuts.
Consequently, both Hockey and Morrison’s combined budget decisions in 2015 will strip more than $17 billion over four years from government spending on families, low income earners and community services.
The underlying economic problems of unemployment, slow growth and weaknesses in aggregate demand are being ignored.
Worst of all, the current Treasurer, Scott Morrison, has reversed a key macro-economic principle.
During periods of low inflation, unemployment, and weak aggregate demand, government spending should be increased.
But the Treasurer now insists that any new spending has to be offset by additional savings and cuts.
Both the Abbott and Turnbull governments have embraced austerity measures when we really need more government spending, not less.
John Glazebrook,
Endeavour Hills.

Comments are closed.

More News

A teen was hit by a car overnight in Narre Warren while lying in the middle of the Princes Highway. ...

Eight men and boys have clashed in a violent all-in brawl including body-slams and a launched shopping trolley at a ...

A Doveton drug addict who burgled and robbed his own 95-year-old grandfather at least 14 times has been chastised by a ...

A reported lawsuit against spy-agency ASIO by two police officers stabbed by 18-year-old terrorist suspect Numan Haider at Endeavour Hills ...

The State Opposition has trashed the government’s proposal to restructure the CFA and MFB despite a lack of policy ...

Berwick breast cancer survivor Debbie Brettoner recently hosted her third awareness luncheon since being diagnosed in 2014. The 5 May luncheon underlined ...

Latest Sport

Only a week after losing Steven Spoljaric to Springvale South, Cranbourne have been dealt another bitter blow, with Matt Chasemore ...

DDCA TURF 1 GRAND FINAL PREVIEW HEINZ-SOUTHERN DISTRICTS v MORDIALLOC WHEN and WHERE: 25 and 26 March, Arch Brown Reserve, Berwick It was ...

DDCA TWENTY20 GRAND FINAL PREVIEW BUCKLEY RIDGES v CRANBOURNE WHEN: Wednesday 22 February, 5.15pm. WHERE: Park Oval, Dandenong. In one of ...