Labor’s national interest tax reforms held hostage to ignorance

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Let’s start with the AFR which always demands reform but then attacks it when it comes:

Bill Shorten’s spending spree has topped $60 billion in the election campaign and is set to rise further, putting Labor on track to lift federal spending as a share of the economy to nearly as much as the Rudd government’s financial crisis-era stimulus.

Under a Shorten Labor government, The Australian Financial Review projects that ultimately, besides the 2008-09 crisis spending, payments-to-GDP would only have been higher during Paul Keating’s 1990s “recession we had to have” and in 1986 when the then-treasurer warned Australia risked being a “banana republic”.

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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.