SEVEN BILLION IN JUST SEVEN DAYS! In his first seven days as Prime Minister, Kevin Rudd has foreshadowed $7 billion in additional promises, including changes to welfare payments, a reversal of university cuts, and even more changes to the carbon tax. He has floated other ideas, including more money for the Gonski measures, a cut in company tax for small business, and changes to the mining tax. Unfunded promises have flowed freely, without apparent regard for Australia’s increasingly troublesome economic circumstances. During his first stint as Prime Minister, Mr Rudd delivered $128 billion in Budget deficits, including the two largest deficits in Australia’s history. This appalling outcome occurred despite his promise that Labor deficits would be “temporary,” that the Budget would return to surplus in 2012/13, and that he would govern as a “fiscal conservative”. Can someone explain how Mr Rudd’s economic spots have changed since his previous disastrous stint as Prime Minister?
Posted on: Tue, 02 Jul 2013 23:03:38 +0000
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