Top Australian economists are backing Labor’s economic plan…

 

Backing Labor’s economic credentials: the experts’ verdict

 

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A clear majority of top Australian economists have backed Labor’s economic plan over the Liberal-National’s corporate tax cuts.

Shadow assistant treasurer Dr Andrew Leigh said when the question was put to a panel from theEconomic Society of Australia – a group of Australia’s top economists – two out of every three backed the Labor plan over the Coalition plan.

“The Labor plan comes out on top.”

“Two out of three of all Australia’s top economists believe that investing in young people will produce a bigger growth dividend than corporate tax giveaways to the top end of town,” Leigh said.

“Economists such as Bruce Chapman, John Quiggin, Lisa Cameron and Gary Barrett all back the Labor plan for investing in our schools.

“The fact is, when you ask the best Australian economists which party has the better plan for boosting growth, it’s the Labor plan which comes out on top.

“Australia’s best economists believe it and Australia needs it.

“We need to get living standards going up again if we’re to make a more egalitarian Australia and if we’re going to be able to invest in our people to create the prosperity for decades to come.

“Australia requires needs-based funding, not corporate tax giveaways to the big end of town,” Leigh said.

“Voters are worse off than they were at the last election.”

A question voters will ask themselves on July 2 when they enter the polling booths will be: am I better off than at the last election?

“And they’ll be aware of the fact living standards in Australia – real net national disposable income per person – has fallen four per cent since the last election,” the shadow assistant treasurer said.

“Most Australian voters are worse off than they were at the last election.

Wage growth is at a 30-year low.

Inequality is at a 75 year high.

“The home ownership rate in Australia is as low as it has been in 60 years.

“In that environment, there are two economic plans being put before the Australian people, and Labor’s economic plan involves investing in young Australians — an additional $37b of funding for schools, following David Gonski’s needs-based school funding model.

“On the Coalition’s side, we’ve got a $50b corporate tax giveaway.

Read more:

 

https://www.laborherald.com.au/economy/backing-labors-economic-credentials-the-experts-verdict/

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