Our Treasurer's favourable comment on Thatcherism/Reganism is a worry because both Thatcher & Regan ushered-in Neo Liberalism ( small Government-small Taxes-user pays & private enterprise self regulation. ) All of this was proven futile by the GFC.
This completely contradicts the current Morrison economic strategy of more Government involvement in the economy to counter the negative economic impact of corvid-19, Bush Fires, Drought & China bans on our food exports.
One has to seriously ask how long will this Treasurer last if he is still a closeted Regan/Thatcherite/Neo-Liberal at a time when we are entering a 1930's period of depression-protracted recession where massive government economic intervention is really needed.The Roosevelt Government edged towards Socialism in the form of the "New Deal" to prevent complete economic collapse.
Our other Neo-Liberal, the Finance Minister , has done the decent thing by announcing his resignation come September! No doubt he will be offered a cushy Ambassadorial post to the EU or the UK!
The Liberal Government has squandered opportunities from 2013 to 2019 to pay down some debt via the MRRT. Instead it repealed it and doubled national debt during purportedly good economic times!
Now we are left loaded with debt with the prospect of taking that to 100% of GDP (combined Governments debt) within 4 years which would put taxpayers under enormous pressure to service this debt .
IMO, we need an entire mind shift in National Economic Management so that all Aussies can benefit from our vaueable resources rather being left to the hollow slogans of "The Lucky Country" & "She'll be Right Mate" by those who are raking-in the Billions & their sponsored Politicians.
