Austerity could become an urgent prescription
The end of the mining boom means that hard choices have to be made about the future of the Australian economy, but they will have to be made quickly.
You would never guess it from the election campaign we have endured but, if elected, Tony Abbott faces what is, in some ways, the most challenging economic outlook of any newly elected prime minister since World War II.
Sure, Kevin Rudd had the global financial crisis and Gough Whitlam caught the oil shock. But these two had time to get their feet under the desk before those external shocks hit.
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