Future shock

Article Abstract:

In Australia in the Oct. 3, 1998, election John Howard, the Liberal Party candidate, seems assured of victory. Global economic turmoil seems to be ahead and J.P. Morgan, US bank, has forecasted growth in the world at 1.7% for 1999. Alan Greenspan, head of the Federal Reserve Board of the US, is expressing concern about US stress from global crisis. Australia is far more vulnerable. Competency in handling of economic problems will be of the greatest importance in the election. Labor candidate, Kim Beazley, seeks to portray himself as more fiscally responsible than the opposition, but is telling the electorate it can reject globalization yet reap benefits of glabalization.

Political activity, Elections, Economic development, Liberal Party of Australia

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Public debt can be good for us

Article Abstract:

The elimination of public debt is an idea that attracts very little opposition or public debate. For Australia, a strong case can be made for the government to hold a low net debt position. Instead of applying the fiscal surplus to cut personal taxes, it would be better to apply part of the surplus to cutting corporate taxes. The move would bring Australia into a more internationally competitive level of corporate taxation and improve investment and employment prospects.

Australia, Column, Tax reform, Tax policy

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The tax-and-spend Liberals

Article Abstract:

A view of the Australian Liberal government's fiscal policy is presented. A historical comparison shows that Australia has the highest taxing government in its history and that it is on course to be the biggest spender.

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