Treasurer Hockey has been replaced by ................................................................. some other economic illiterate.
"The new treasurer,
Scott Morrison, has opened the batting in his new portfolio by declaring Australia does not have a revenue problem – it has a spending problem."
Yeah that works but only if you neglect to mention that revenue expectations are down $20b+ on spending expectations for this financial year.
I'd believe Ken Henry above Hockey or Morrison any day
"“Ken Henry explained that today spending is 26% of gross domestic product and revenue is 23.5% of gross domestic product. A bit more than half of it is explained by a deterioration in revenue performance; by the tax system not delivering in the way that the tax system has delivered in the past,” Henry said.
"Mr Hockey said that "in the 2013-14 budget Wayne Swan said he was expecting $401.2 billion in receipts for this financial year (2014-15), this MYEFO shows we are expecting $379.5 billion in receipts for this financial year - a writedown of
$21.7 billion"
Doesn't look for us if this is the best he can come up with.
