The Hon Chris Bowen MP - Federal Member for McMahon
What's Happening Posted October 19, 2016.
There is plenty of focus on deficits and government debt in the Australian political debate. This is fair enough. But I am glad that our levels of private debt have been getting more attention lately. Ballooning leverage and foreign debt undermines our financial stability and provides for dangers in the event of a global downturn.
It’s not the government’s responsibility to dictate to households and businesses whether they should borrow money and how they spend it. But it is a government’s responsibility to ensure that policy settings are appropriate and do not distort economic decision making. On this, the government simply remains asleep at the wheel, or worse, is knowingly failing on its duty to ensure the...Read complete article »