Shadow treasurer Angus Taylor says Jim Chalmers’ manifesto to remake capitalism is a throwback to the “chaos” of the Whitlam era, while other observers gave more positive reactions.
Shadow treasurer Angus Taylor says Jim Chalmers’ manifesto to remake capitalism is a throwback to the “chaos” of the high-inflation Whitlam era and abandons the economic reform model that delivered rising living standards around the world.
Mr Taylor said Dr Chalmers had declared the Hawke-Keating Labor economic legacy was “dead and signalled a throwback to the policies and chaos of the Whitlam era”.“Not only has Dr Chalmers demonstrated he is hopelessly out of touch with the hip pocket challenges families and small businesses are facing, he has demonstrated a contempt for supply side reforms that have lifted GDP and living standards globally,” Mr Taylor said on Sunday.
“Chalmers is proposing a model of capitalism that, as he describes it, has the underpinning of social values that are being increasingly demanded of both governments and business by the general community.
“Chalmers is advocating a collaboration with business that will surely recognise these values as being inherent in any such collaboration. “It’s not just unfettered capitalism maximising profits, it’s defining welfare more broadly to include social capital and natural capital.
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