Sitting at home watching the tele tonight, the ABC came across a gem from Peter Costello. Mr Costello is the Treasurer for the Australian Government [now disolved for the election, so technically he's the Caretaker Treasurer] and re-running for the Victorian seat of Higgins.
Mr Costello was being interviewed on channel 7 for their electoral coverage. This is what he said:
Mark Riley: You’ve probably seen the Reuters survey this week, Treasurer, 14 independent economists, market economists, not one of them agrees with you, that interest rates will be any different under Labor over the next three years.
Peter Costello: Well, if I may say so, I don’t know that economists are the best people for assessing and understanding…
Mark Riley: Assessing the economy?
Peter Costello: Labor policy.
Mark Riley: Well, who are if not economists, mechanics?
so our esteemed treasurer apparently doesn’t trust economists to do costings of Labor Party policies. In the words of Mark Riley “Well, who are if not economists, mechanics?” [I may throw my hat in the ring and say that perhaps engineers could... don't know whether the answers you get are the ones you are afte though Mr Costello. Perhaps Lawyers who haven't studied economics might be good, added bonus if they're Liberal or National Party loyals...]
and hasn’t Mr Howard changed tack on his childcare policy. He’s reverting to the Labor Party’s old policy of childcare. He really doesn’t want women to be out in the workforce - get back in the kitchen, he’s stated through policies since getting into the Australian driving chair. Problem is I think his daughter has been harping on at him about how she wants to work and be a mother, and eventually it has to get through to him… Especially if she might be pregnant or thinking about it in the near future… The only difference in policy is it’s lack of means testing, meaning the wealthy will get more money back should they take out child care. Want a Nanny anyone? Government will pay 30%. One problem I see with this is that it is just an incentive for the child care centres to put up their prices [further inflating the cost] since there is apparently a shortage in childcare from what the predominantly ladies of Australia keep telling us, and the willingness to pay more is higher if you aren’t actually paying the extra.
Last but not least in this lovely day of electioneering from our pollies is news from an ANU Professor Warwick McKibbin who has gone on the record on the ABC’s 7:30 Report to say if the economy grows any stronger there will be upward pressure on interest rates that Howard has promised that his latest round of middle class welfare handouts cannot make the interest rates increase, at odds with the Professors statements. Further there is no way either side can promise that the future budgets will always be in surplus without some form of crystal ball [in which case, either side knows all of the future and can predict when and where the next terrorist attack will be from and aimed at] but somehow I doubt the existance of such a device.
Mr Courtney,
it has come to my attention that you know economics!
that is all.