Apr 3, 2017

Seven new terrible economic records ScoMo set in March

Scott Morrison has some new records to add to his quest to be known as Australia's worst treasurer.

With reports of Prime Minister Malcolm Turnbull taking control of the 2017 budget and rumours that Scott Morrison will be demoted from the senior portfolio in the next ministerial reshuffle, the March news on the economy was disastrous for the Treasurer.

At least seven new records were set. None are to his credit.

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16 thoughts on “Seven new terrible economic records ScoMo set in March

  1. Michael Quincey O'Neill


  2. Decorum

    Fair go, though, Crikey: what about the things the government actually cares about? How are corporate profits, actual corporate tax takes relative to their expected levels (i.e. those that would occur if the tax schedules actually applied), CEO pay, big end property prices – that sort of thing?

  3. Ian Roberts

    When will the myth of Coalition financial management be buried? They’re consistently lazy and self (and supporter) serving. We can’t afford them in power much longer.

    1. John Kotsopoulos

      What about household debt which has gone through the roof in the face of negative wages growth. (Does anyone believe the con that is the official CPI)

  4. klewso

    When will we read about this sort of record of “economic management” in Limited News?

      1. AR

        ON Macquarie radio Blot & the Poison Dwarf had the effrontery to bang on about the need to reign in the debt caused by Labor mismanagement.
        No brain, no pain, no shame.

        1. Anthony BEER

          Willing to learn – Please tell:
          Who are BLOT and THE POISON DWARF?

          1. AR

            Blot, aka Andrew Dolt and his Hobbsean (nasty, brutish & short) mate, Steve “any” Price who indulge in a mutual tongue bath 4 nights pw on the Macquarie network.
            If you have the stomach, try catching it 8-9pm.

        2. John Kotsopoulos

          Yeah they caused the GFC just as surely as Keating caused the 1990s recession. There are mental midgets who actually believe Labor was the cause rather than a victim of the latter

  5. Dog's Breakfast

    Lucky we are blessed by having the responsible economic managers in power!

  6. zut alors

    The remarkable thing is that Morrison & Cormann don’t appear even slightly embarrassed by the woeful results of their management. Morrison still takes the occasional swipe at Wayne Swann in Question Time, scoffing at, & belittling, the Treasurer who kept the Oz economy afloat during the GFC. The Coalition has no shame.

  7. Marjorie Carless

    and they keep on smiling..or is it rictus?????

  8. 3 Policy options

    Great article Alan. More like this in the lead up to the Budget will help put it in context and show that the Government can’t just keep talking about “jobs & growth,” they actually have to produce some or at least be honest what the problem is. Laura Tingle said recently that this Budget will have to address inequality and that the public didn’t believe the Government when it talked about growth and things like company tax cuts. If the Government lets this Budget drift into the ether, then they are likely to follow.

  9. Kenneth Piaggio

    The Debt and Deficit growth would not be so bad if it was being used to create government led employment. Then they would be doing something that would reverse all of Alan’s parameters, except rate of debt increase. With the Government sourced money/ ‘debt’ (borrowed from itself), there would be increased money washing around the community, there would be more personal income to stimulate the private sector, more income tax to stimulate the revenue side of the balance sheet and an economic recovery.
    So I am not worried about the debt just how much this Government, and others who follow a neoliberal approach, have not distributed the spending of that money in ways that benefit all of the community e.g. Corporate tax cuts to make the country ‘more competitive’ when our current tax system makes us more competitive than 16 of the G20 countries, including UK and US. (See Andrew Probyn’s article on the ABC website, yesterday.)

  10. Murray Scott

    While we (rightly) flagellate this Government for failing to achieve conventional ambitions of JobsonGrowf, let’s look a decade or two ahead. As the realisation sinks in that we have left it too late to make a fair and efficient transition to greenhouse constraints and to address global and local inequity, that aim of JobsonGrowf as a fix-all for economic disequilibrium will not look so clever. I long for a treasurer who shuns the fantasy of perpetual growth and maps out a strategy for achieving a stable, sustainable economy. The unrepayable debts of practically every country on earth represent a second-order problem compared with the real economy.

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