Last week the present secretary to the Treasury, Dr Steven Kennedy, used a speech to economists to deliver a particularly frank assessment of the Labor government’s budgetary inheritance | OPINION from 1RossGittins
To that you can add underfunding by the Coalition in tertiary education and healthcare, plus a massive capability gap over the next 20 years or more which can only be fixed by an immediate increase in spending on defence, diplomacy and foreign aid.to guarantee the delivery of essential services while reducing taxes was delusional – a delusion many of us were happy to swallow.
“This would see average personal tax rates increase towards record levels,” he said, meaning more of the total tax burden would fall on wage earners.
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