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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Max Walsh

Contributor

Max Walsh was for many years one of Australia’s top economic and political commentators, highly regarded as a journalist, author and broadcaster. Throughout his career, Max was involved in all dimensions of the media industry, which has encompassed positions with two of Australia’s largest publishing companies and television networks.

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