From Johnny Hewson today:
While the government claims Big Wins with the passage of the double dissolution triggers, the Registered Organisations and ABCC legislation, these are very much “beltway” victories. The electorate really doesn’t relate, still seeing these as just more of the same political “game-playing”, not governing on issues that matter to them. The significance of such measures is not well explained, and voters can’t see the jobs, or improvement in their living standard.
As our economy slows, against a very flat, risky, and unpredictable global economic and political environment, voters are increasingly concerned about job security, and about the cost of living, at a time when wage increases are as small as they have ever been.
Basically, the electorate sees power and communications companies, supermarkets, health and other insurance companies, and banks, “ripping them off” by exploiting their market dominant positions. So much for all the political rhetoric about “competition policy”! Add to this the struggle with mounting health, school, and childcare costs, and probably a majority of the electorate is living from hand-to-mouth, week-in-week out.
Our relatively low measured unemployment rate masks the reality that we have been losing full-time jobs rapidly, as various companies, and in some cases industries, close, underemployment is mounting, and, in some particular regions, youth unemployment is severe.
What’s more, we could be on the cusp of losing many more jobs as power costs rise. While we are still digesting the collapse of the car industry, and its ancillary industries, all gas and electricity dependent industries are under threat, particularly steel, smelting, glass, paper, and many mining operations.
…We enter 2017 with the Turnbull government having absolutely no policy agenda.
It has one. Do nothing to disturb house prices.
