Its not in the nature of Labor governments to cut spending and anyone who voted ALP in May expecting fiscal rectitude is going to be sadly disappointed.

Of course, of late it hasn't been in the nature of Liberal governments to cut spending either but its is my hope (but just hope) that the Libs will eventually return to their basic principles and start to work toward fiscal responsibility.

The article claims that people want spending cuts rather than tax increases. That's probably true although people will only support spending cuts that don't affect them. So governments are stuck with a massive lockdown debt and little hope of getting out of it.

One way to do so is to inflate their way clear. It is said that half the reduction in this year's deficit is due to bracket creep and continuing that for a decade or two might be enough to build surpluses and therefore debt reduction. But again its unlikely that successive governments would permit this long term tax rise.

The only way to achieve deficit reductions is through dramatic wholesale cuts in non-essential areas. The new Swedish government just closed an entire government department - the Environment Ministry. We could do likewise. Equally we have an entire Federal education bureaucracy mirroring all the state ministries. Close it an give education responsibility to the states - or, better yet, the parents via vouchers.

I am pessimistic that governments of either flavour will have the fortitude to do what's necessary and the next generation or two will just have to exist on lower living standards weighed down by debt, inflation and high interest rates. And most won't even know why.

All social service, health and education needs to be means tested.

Multimillionaires shouldn't be using public hospitals/beds nor public schools.

And all that multinational tax avoidance ought to be sorted, so they pay the same rate on profits earned here as other businesses.

Do just that much and tax revenue would be doubled. and fair means testing would halve expenditure.

Social service that the taxpayer pays for needs to be for the needy, not the greedy. And given we do that, ensure it goes straight back into the domestic economy.

Paying tax needs to be seen as a privilege to live, work and play here. If that doesn't suit? Try Putin's Russia, the Ukraine, Tibet or England where the top tax rate is 45%. And VAT (same as GST) is 15%.

And let's be clear those with the biggest bank balances have other people, their bent backs and furrowed brows, earn their money for them!

It's a bit rich them for them to bitch about paying too much tax. Try England or France or most of Europe. Most would change places in a heartbeat with our wealthy or better off.

Profits have gone up exponentially while wages growth has stood all but still. Time that those bent backs and furrowed brows got a fair share of the income/earnings that created!

Christian inspired Cooperative capitalism comrade! And no, I won't wash my mouth out.
Alan B.

Eliminate the middleman and you halve the cost of living and the cost of doing business. Which that done our current social service would go twice as far and do double the economic work in our economy.

Enable cooperative capitalism and that would allow via the usual economic flow through factor, make every one dollar do the work of at least seven in the domestic economy.

Yes, there are better ways! But don't hold your breath waiting for the current crop to usher them in! Or long overdue tax dollar spending transparency!

Idiotic mindless ideology rules as do (yes Minister) public servant's pet projects/agendas.
Alan B.

Multimillionaires shouldn't be using public hospitals/beds nor public schools.
Alan B,
Add drug abusers to that list !

If there were a National service scheme, there wouldn't be homeless & those in that service would be tended to in their own & Military hospitals & facilities. More jobs, less crime, fewer sick, far less drug abuse ! Improving mentality ! Win, win, win !