Morrison’s vision: Tax cuts and welfare cheats

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From The Australian comes the Morrison vision for reform of the national economy:

In his first interview as Treasurer, Mr Morrison said the Turnbull government would focus on “starting” the economy rather than simply “stopping” things like the carbon and mining taxes.

“Spending as a percentage of GDP is at 26 per cent. That is not sustainable,” Mr Morrison told The Daily Telegraph.

“That is not small government and our tax system does not reflect those aspirations.

“Clearly there is not enough reward for effort. That’s why some people find it more beneficial to stay on welfare benefits than work.”

Given the range of challenges we face all I can say is faaark.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.