Reserve Bank’s monetary policy, inflation, gas exports and reservation, taxing transactions, Barnaby Joyce’s pet rail project.
I am over 80 years old now and have been in more than 70 countries; I grew up in Germany, where I was born during the war.
Every day millions of monetary transactions are made – eftpos and so on. Just a 10¢ fee would create how much money a day? The government would have a steady income – nobody gets hurt – and a lettuce would be affordable again after 10 years.There is an easy way to get the money to pay the compensation for the French submarines contract: cancel Barnaby Joyce’s railway.
For just once, the national interest would have been served by a new railway through the electorate of the Nationals leader – Joyce’s New England – and not only because that route would compete with trucks. This would also have produced two lines for the price of one, by effectively duplicating the line between Brisbane and Sydney.If the Joyce line is built, we know what will happen to it. A future Coalition government will solemnly go over the books, pronounce Joyce’s nonsense an incurable loss-maker, and close the wretched thing down.Phillip Coorey reports that the LNG export industry argued that an eastern market gas reservation policy would have undermined its viability.
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