The Economy

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‘What we have now is a government of the people, by the bureaucrats… for the bureaucrats.’

Milton Friedman, Why Government is the Problem

Every generation of Australian has enjoyed a higher standard of living than their predecessors. It has been a hallmark of our nation’ success and capacity to innovate. But for the first time in our history future generations of Australians are facing declining standards of living. At the core of this is lower home ownership levels, wage growth below inflation and higher costs of living. The promise of Australia is opportunity and a fair go.But if entire generations are set to be poorer can we really call ourselves the lucky country?

An ever-expanding bureaucracy now touches every area of our lives, almost always to our detriment. What we need is smarter regulation not more regulation and a sustained de-bureaucratisation across every level of government, in every department and industry. The Australian people have not become less entrepreneurial or more complacent. They have become more constrained by the cumulative burden of regulation, compliance and interference which has made government the problem not the solution.

Ending rule by bureaucrat with rule of the people is a fight against vested interests. SMEs employ more people and contribute a greater proportion of our GDP than any other. SMEs are responsible for the lion’s share of innovation. They are the engine room of our economy.