The former Liberal treasurer has some harsh words for governments past and present.
"The reach of government, the cost of government, the debt incurred by government is just starting to ratchet up through each cycle", Costello said.for "not aiming now to pay back the debt we incurred when the economy was down … we're just going to carry the debt from the bad times forever".
Costello added that Australia should be able to better address its debt due to high commodity prices. He said "it was warranted to have a fiscal response and to have a strong one" but took aim at one "design flaw" in the Job Keeper program,"There were a lot of companies that said, 'oh, well, we think we're going to go down by 30 or 50 per cent [in revenue], they self-assessed and got the government payment," Costello said."Some of them got the government payment, even though their revenues went up.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coalition MP’s ‘grassroots’ nuclear power survey linked to consulting firmExclusive: Ted O’Brien’s Time to Talk Nuclear website was registered by business that helps US reactor company
Read more »
Andrews says State Electricity Commission pledge sealed election for LaborPremier Daniel Andrews says the promise of resurrecting the State Electricity Commission was a killer blow in the election campaign that delivered Labor a third term in office last weekend.
Read more »
‘You ain’t seen nothing yet’: Why Labor is just getting startedAnthony Albanese went to the election promising “renewal not revolution” but six months in and 61 bills later, it’s starting to feel more like the latter.
Read more »
Peter Brock's brother's emotional Holden farewellPeter Perfect was a Holden man through and through. 0️⃣5️⃣ His brother has given an emotional farewell to the brand on its final weekend in RepcoSC. 🔴🦁
Read more »
Euthanasia laws will prevent ‘undignified’ deaths, bioethicist Peter Singer says after territory bill clearedProfessor of bioethics at Princeton University Peter Singer says euthanasia legislation in Australia will prevent 'very distressing and undignified deaths'.
Read more »