When mainstream economists like Tim Hughes (Brisbane Courier Mail 18th February) start to talk about the "fiscal mess", we know there is a problem which can only be fixed by increased taxation or massive reductions in government spending.
Australians are acknowledged worldwide for our entrepreneurial attributes. A big pity then that we don't have the Swedish Treasurer, Andreas Borg, running the Australian Government. Judith Sloan (Australian 16-17th February) quotes him as saying "entrepreneurs are the source of job creation" and he reduced taxes and charges in response to the GFC. So did the Singapore Government amidst earlier economic volatility.
What does our mob do? Slams "rich entrepreneurs and mining billinaires even if they do create jobs" according to Judith.
It is not just the high profile end of town which has been slammed.
It was this government of course, presumably because they do not like poorer but hardworking people become wealthier -the so-called aspirational class - who killed off employee share schemes -which internationally are well recognised as key drivers of any entrepreneurial economy. The fact that such employee share schemes benefit employee and employer alike didn't seem to matter.
So it shouldn't be much of a surprise that, as the government created "fiscal mess" demands money to fix it, the business sector, and SME's in particular are not going to provide it. Even if they wanted to.
In short, everyone loses. Except for those sacked and retiring Federal politicians who are paid for life by the taxpayer and never have to work again.
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