Public service cuts incoming as costs surge
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Former NSW Senior Trade and Investment Commissioner Mike Newman recently appeared on John Anderson’s podcast and effectively argued that Australia’s bureaucracy is too large compared with other advanced nations.
Newman said that Australia employs 2.6 million bureaucrats at a cost of $250 billion each year.
For instance, Japan, a country with 4.5 times the population, has 3.4 million public personnel who cost nearly the same per year.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.