Do-nothing Malcolm takes Hillary’s high road to oblivion

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Does nothing, explains nothing, understands nothing, soon to be nothing, from the AFR:

…the Prime Minister, who has been arguing for some time against a return to protectionism in the wake of Brexit and the rise of Mr Trump, said Mr Shorten, for example was putting foreign workers before Australia by supporting a lower 10.5 per cent rate for the backpacker tax.

…Labor said Mr Turnbull was talking rubbish because Australian workers pay no tax on the first $18,200 earned, which is the tax-free threshold, whereas the backpacker tax would apply to every dollar earned, meaning foreign workers would pay more tax overall.

Mr Turnbull said “flirting with protectionism and free trade” would cause great harm.

…”The reason we have strong jobs growth in Australia, the reason we have a transition that has not been the hard landing many expected is because of the considered, deliberate, economic leadership that my government has delivered.”

But Mr Shorten’s rhetoric found an unlikely ally in Mr Kroger who said the American contagion had taken hold in Australia.

“Nobody’s ever explained to blue collar workers why they have lost their jobs to China,” he said of the US and its free trade deals.

Even Kroger can see it. Do-nothing is taking Hillary’s high road to oblivion.

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.
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