Yes Dave R a very timely warning indeed, Westpac economists already factoring in 4 rate cuts by the Reserve bank over the next 12 months to prop up a slowing Australian economy.
The LNP well and truly hoodwinked the Australian public into believing that Australia will be immune from the next cyclic downturn and a global recession and that our economy will keep ticking along for another decade under LNP's magical economic management. If the current parliament is fool hardy enough to pass tax cuts for high income earners that won't kick in until 2024, then they really do need to be removed from Government at the next election. These politicians can not know what lies ahead for this nation in 5 years time, so how can they in all honesty pass legislation to cut taxes so massively in 5 years time? Fool hardy to say the least for any Senator to support such a matter.
Australia dodged a bullet during the GFC, but i dare say we will not be as lucky this time around!
