The book launch of Restoring Hope: Practical Policies to Revitalise the Australian Economy by Andrew Stone, former Treasury and Reserve Bank official and Chief Economist. With Paul Kelly, held a conversation on the book and a look at Australia’s economic outlook for 2020 with former Prime Minister Tony Abbott and CIS executive director Tom Switzer.
Since the Howard government, Australia’s per capita growth rate has slumped and wage growth has been anaemic, while housing prices have skyrocketed relative to household incomes. Commonwealth net debt has surged and Australia has become much more vulnerable to an economic shock than prior to the Global Financial Crisis. This volume prescribes practical policy remedies covering immigration, the housing market, higher education reform, federal-state relations, energy policy, workforce participation, welfare reform, budget repair, monetary policy and financial system regulation.
“This is an ambitious program of structural as well as fiscal reform. Let us hope there are politicians willing to take the risks inherent in such a radical strategy.”
“Andrew Stone reminds us that improving productivity is the key to future living standards in Australia. He identifies a range of areas where this could be examined. The hard work of economic reform cannot be done without explaining the options and building public support.”