Voters may want more than spraying more money around in a world of slow productivity growth, increased trade barriers, dangerous geopolitics, and stagflation.
Pre-election budgets are rarely edifying, but they are not meant to be. They are about winning elections, and theis aimed right at the heart of Labor’s appeal to voters: blue-collar jobs, wages and the cost of living.
They also are staring at a string of projected fiscal deficits which have a strong chance of getting bigger as stagflation slows the global economy and pressures on the federal budget increase. The same goes, he says, for the Morrison government’s catch-up spending on aged care, disability insurance and mental health.
There is nothing in the budget to suggest that Scott Morrison is the agent of reform that the country needs. Yet the national cabinet, established by Morrison and the premiers, might be just the vehicle needed to manage a revival of reform.One great advantage of the national cabinet is the natural diffusion of political responsibility that goes with it. Each politician can blame all the others for unpopular decisions, while arguing that the overall benefits from the national cabinet and its reform program more than offset the cost of the unpopular decisions.
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