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Queensland’s biggest economic challenge isn’t debt – it’s growth

In The Conversation (17.2.15) Professor Fabrizio Carmignani writes an open letter to the new Premier:

‘Dear Premier Palaszczuk, As you meet with Queensland business leaders on Tuesday and get down to the business of governing, you’re sure to face many immediate preoccupations and challenges. But considering the economy was the dominant issue of this election, I would like to provide three pieces of advice for your new Labor minority government.

‘First of all, I would encourage you to remember that the ultimate objective of economic policy is to promote inclusive economic growth and welfare.  I use the word inclusive here to mean that all individuals, especially those at the bottom end of income distribution, should be guaranteed access to the benefits and opportunities arising from the increasing pace of economic activity.  It is only by being inclusive that growth can effectively generate “development”.

‘Budget, taxes, debt and expenditure are only tools that the government can use to achieve the fundamental goals of inclusive growth and welfare.  Unfortunately, in the recent past both the federal and Queensland governments have mistaken tools for objectives. … ‘  Read more

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