Morrison’s Reaganomics will increase inequality in Australia and won’t improve the budget position
Greens Treasury spokesperson, Senator Peter Whish-Wilson, says that Scott Morrison’s supply-side economics response to his worsening budget deficit will do nothing to address the budget position and will only exacerbate inequality.
“Only last week, with the surprise US Presidential result, Australia began a conversation about how politicians ignore the difficulties of those people left behind by economic change. Yet today, the Treasurer is using weak budget forecasts to promote his government’s agenda of slashing corporate tax rates and cutting further into to the social safety net.
“We have a revenue crisis, not a budget crisis and Scott Morrison’s response will only serve to accelerate inequality across Australia.
“Rather than looking at real reform that raises the revenue that Australia needs, the Government is fixated on penny-pinching from those on income-support and through Bills like the backpacker tax.
“The Liberals like to talk themselves up as great economic managers but since Hockey and Morrison took over underemployment is worsening, housing affordability has crashed, infrastructure spending has flatlined and the budget deficits are constantly worse than the forecasts,” he concluded.