FEDERAL Treasurer Jim Chalmers announced his national economic reform plan in an ideological essay this week.
The Treasurer says he has a vision for a new “values-based capitalism”.
His grand statement signals a seismic shift away from free-market policy which has provided opportunity for wealth and prosperity to all Australians for decades.
Chalmers argues the reform will be government control of the market to achieve its social agenda and provide stability, and to reshape previously independent bodies such as the Reserve Bank and Productivity Commission.
On top of this, the government will direct industry super funds to serve the government’s interest.
With inflation at a 33-year high and cost of living causing significant stress for families, the Treasurer believes the solution is a bigger, better bureaucratic government.
In other words, socialism.
Some may think these reforms may be positive, at least initially.
While Australian minerals, agriculture and energy export markets are booming, the government can use trade revenue to undertake reform.
But make no mistake, eventually there will have to be new ways to raise revenue to distribute as the government sees fit.
What we don’t want to see is the government directing super funds to invest members’ money – your money – to fund its pet projects, selected by the government with Chalmers as the chief economic controller.
Labor does not respect Australians or Australian businesses enough to allow them to choose their own investments.
As this occurs we still have a cost of living crisis in the country.
Sixty-six per cent of fixed rate loans are set to roll onto variable interest rates this year, with those rates increasing for the foreseeable future.
And Labor’s promised relief is not to be delivered until the second half of 2024.
Meanwhile the Treasurer waxes lyrical about his personal views on redesigning capitalism (read: socialism) and his proposal for left-wing populist economics.
His priority should be to honour Labor’s promises to cut costs for Australian households, not ideological essays which threaten our way of life.
