Australian budget

There’s no business loans for Frydenberg to buy

David Llewellyn-Smith
Thursday, 15 November 2018
Advertisement

The Australian rightly questions the Frydenberg bank bailout today, at The Australian:

Several Liberal MPs were critical of the measures because of the increased government inter­vention. “I remember the Kevin Rudd bank for infrastructure and how much it was ridiculed,” one MP said on the basis of anonymity. “My views don’t change radically because it was a (Josh) Frydenberg announcement rather than a Rudd announcement.”

…The loans proposal was criticised by some bankers and Liberal MPs. “It seems to be designed to be a one-off confined subsidy,” said Roger Wilkins, a former Citigroup banker and senior public servant, including ex-president of the Financial Action Task Force.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
Twitter Share
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.