Рет қаралды 1,644
The Australian economy has performed better than most economists predicted a year ago. However, probe deeper and things look disturbing. We face not just a productivity drought, but runaway government spending programs that, left unchecked, will lead to budget deficits and stagnation or decline in living standards.
Australia, as Treasury’s Intergenerational Report warned last year, will become older, more indebted, spend big on social services, grow slower, have weaker income growth and tax working-age people more over coming decades. Savings need to be found, but where?
Australia is now one of the biggest government spenders on disability in the world, according to the OECD - more than double the UK and Canada, and on track to go past the European welfare states of Iceland, Finland and Sweden. The National Disability and Insurance Scheme, which is projected to blow past $100 billion a year, needs to be curtailed. But how?
John Kehoe is economics editor of the Australian Financial Review and a former Washington correspondent.
______________________________________________________________________________________________
CIS promotes free choice and individual liberty and the open exchange of ideas. CIS encourages debate among leading academics, politicians, media and the public. We aim to make sure good policy ideas are heard and seriously considered so that Australia can prosper. Follow CIS on our Socials;
Twitter - / cisoz
Facebook - / centreindependentstudies
Linkedin - / the-centre-for-indepen...
Telegram - t.me/centreforindependentstudies
📖 Read more from CIS here: www.cis.org.au/
💬 Join in the conversation in the comments.
👍 Like this video if you enjoyed it and want to see more, it really helps us out!
🔔 Subscribe to our channel and click the bell to watch our videos first: / @cisaus
⏲️ Missed this event live? Subscribe to CIS to be up to date with all our events:
www.cis.org.au/subscribe/
📝 Subscribe to CIS mailing list- www.cis.org.au/subscribe/
💳 Support us with a tax-deductible donation at - www.cis.org.au/support/