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Treasurer Joe Hockey’s call on shoppers this week to “not let Santa down” and to spend up big at the stores this Christmas to boost Australia’s flagging economy has been questioned today at The Australian, with Saul Eslake quoted as claiming the Treasurer is being unrealistic:
“They of course haven’t because propensity to spend is affected by conditions beyond governments’ control and the government by its actions hasn’t given them compelling additional reasons to spend,” he said.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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