kenny156 said:
Howard believes that this election is going to be fought on Economic experience. However, since the sad departure of Keating from Parliament, there has been no real difference on economic policy between the parties. Ian MacFarlane the ex-Governor of the Reserve Bank admitted as much in his Boyer Lectures on ABC Radio National last year. Unfortunately, everybody forgets that our current prosperity is built on the back of a commodities boom that is soon going to run out and the reforms put in place by Keating. All Costello is done is tinker about here and there and spent the money that has come flowing in.
Bi-partisan economic policy? Correct me if I am wrong, but Labor has opposed every piece of economic reform undertaken by the Howard Government. They have in no way displayed an agreement on the economic direction of this country of the past 11 years, and by St. Kevin Rudd saying so, is manipulating the truth.
The 'commodities boom' argument is an easy option for the ALP to take. Why have they not campaigned on this basis for the last 10 years? Why do NSW and Victoria appear to be economically sound despite being service based economies?
The continued confidence is due to fiscal responsbility and the streamlining of revenue generated by the Tax Reform of the Howard Government (which has resulted in a broadening of the indirect tax base, and a reduction of the direct tax base).
This is where people have it wrong. Economic stability is not a given, and minor adjustments here and there challenge the status quo. Costello doesn't just 'tinker' here and there, and spend money generated by a so called resources boom. Workplace Relations reform, Tax Reform, the continutation of the NRA, Family Welfare Reform, Responsible fiscal management, Inflation Policy, etc, have all been instrumental in enhancing the improvements generated by the deregulation of the economy in the 1980's, which WAS bi-partisan policy; voted for by BOTH parties.
The biggest mistake made by the ALP was their continutation of zealous expenditure in the face of structural reform, which when combined with challenging global conditions, was not only irresponsible, but sent the country into recession.