Labor has recorded an historic federal election victory, and the Coalition an historic defeat with their leader, for the first time for an opposition leader in Australia’s history, losing his seat.
If it really is “the economy stupid” Labor should have lost.
Australia has had the worst economic performance of any G 20 country over the last 5 years. High inflation, and a decrease in productivity, housing at record levels of unaffordability for both buyers and renters, debt and deficits without end.
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The only thing that saves the country from banana republic status is the buffers built in by the Howard Liberal government which paid back all government debt and left office in 2007, but that can only last for so long.
On top of that Labor’s immigration policies have stressed the capacity of the country with a 500,000 migrants arriving each year into a country of only 25 million; their so-called “energy transition” threatens the viability of industry and the whole power network; they divided the country with the racial politics of The Voice; their foreign policy sees Australia less secure than it has ever been; red tape and environmental laws make it impossible to start a mine in less than 10 years, even though mining pays the bills; runaway social welfare benefits; and they have taken Australia back to the 50s with industrial relations laws that entrench adversarial relations between bosses and employees and limit the ability of both to make a living.
50 years ago, Whitlam lost after 3 years of government with fewer strikes against his name. Many, including me, argue that this government is worse. But the Dutton opposition was unable to prosecute the case.
The Coalition has had competent leaders who have run great Oppositions from which they have won government. Think Tony Abbott, John Howard, Malcolm Fraser (Whitlam’s nemesis), and last but greatest, Sir Robert Menzies.
Each of these leaders won by sharpening the difference between them and their opponents. Peter Dutton and this lot of LNP leaders tried to minimise the difference.
Labor’s strategy was to bribe voters to vote for them. They increased expenditure on Australia’s health system, Medicare, and the Pharmaceutical Benefits Scheme. Rising electricity prices due to government policies were blunted with government subsidies.
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They also promised to cut taxes by $5 a week, after allowing inflation to raise them by more.
They might have been responsible for rising costs, but they would cushion the hurt by giving taxpayers taxpayer-funded relief.
They haven’t even bothered to raise taxes to pay for their bribes, but borrowed the money, meaning that today’s youngest voters will be the taxpayers picking up the tab.
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