The Coalition Austerity Myth

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    Looks like the govt has swung to Keynesian economics which must be a massive blow to fundamentalist conservatives. The Coalition govt has moved left. That shows how worried the govt is about it's re-election prospects that it has been forced to look more like a Labor govt. Will it work? Maybe not because those that give up their core principles by trying to imitate the Opposition impacts credibility and as with many imitations they rarely live to the real thing. Its like manufacturing a fake Rolex watch. A fake budget to try and hoodwink the voters to get re-elected by pretending they are like Labor.

    "Budget 2021 debt and deficit departs from the Coalition's small government beliefs"

    "The austerity myth

    Since the 1970s, Coalition governments have preached restraint. The role of government, we've been told, has been to remove itself from the economy to allow personal ambition, free enterprise and animal spirits to flourish and drive economic growth.

    Debt and deficits were demonised.

    As an election mantra, it has been devastatingly effective. It saw off the Whitlam government and dispensed with the Rudd/Gillard era. But for all the accusations of Labor profligacy and irresponsibility, the Coalition's track record on austerity has been more rhetoric than reality."

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