Albo the Disaster has given the order to go forth and lie, and his treasurer, Jim “Chicken” Chamlers, is always the most accommodating.
He appears today to write up his failure at The Australian:
In my Treasury portfolio, the halfway point of our term also marks a greater emphasis on renew and reform, not just repair and restore. This means striking a new balance between cleaning up the mess and building a better future.
…Our reform agenda has one overarching objective: to modernise our economy. This is how we maximise our advantages and benefit middle Australia. It’s how we make our people and industries the primary beneficiaries of big changes under way in our society and economy.
Everything we do is about making our economy more modern. We are modernising its energy system, by expanding the Capacity Investment Scheme and working with the states to secure the energy transition, and developing sectoral plans. Modernising and broadening and deepening its industrial base, by investing more than $40bn to become a renewable energy superpower, investing in critical minerals, establishing the National Reconstruction Fund and supporting digital adoption, especially by small businesses.
Modernising its supply chains and trading relationships…
Modernising its human capital base…
Modernising its capital flows by incentivising sustainable finance…
Modernising its markets, revisiting our competition settings…
Modernising its superannuation and tax systems, focusing on better retirement phase outcomes and refining the performance test, implementing payday super, and improving super tax concessions, multinational tax and the petroleum resource rent tax.
Modernising its housing stock…
Modernising its technological infrastructure…
Modernising our economy and maximising our advantages…
Does anyone think the word “modernising” tested well in the focus groups?
Here is the truth of it:
- The Capacity Investment Scheme is a great piece of policy that will “crowd in” renewable and energy storage investment. Bravo to that!
However:
- Nothing has been done to modernise or deepen industry.
- Critical minerals are just more holes in the ground.
- Infrastructure investment is far behind the curve of mass immigration thus killing productivity while adding a lot to inflation.
- Supply chains have been re-outsourced to China, ignoring all recent risks and warnings.
- Human capital is being unskilled at astonishing speed via unprecedented Third World mass immigration.
- Competition has never been worse and there is no move to improve it. Especially since Albo’s cowards are so terrified of business.
- The housing shortage is only getting bigger.
- Technology Lol.
Chicken Chalmers has done less reform and more economic damage in 18 months than any modern treasurer before him, and this flow of rhetorical offal shows no sign of changing it:
