I've realised that as much as I've heard the Liberal "we're good at the economy" claim I haven't seen compelling evidence to support it. Where did it come from and what is it backed by?
It came from blowing their own trumpet and sour grapes. Like (almost) everyone posting in this thread they think their ideas are the good ones and everyone else has bad ideas. Being economically conservative they like to follow the age old rule of thumb - put money in the bank. So they will apply the same principles and practices they have used for a century or so.
Over the last 40 or so years almost every economic leap forward has come from the Labor party. Some quick easy examples from the Hawke-Keating era would be floating the dollar, deregulation of the finance sector, privatisation of Qantas and commonwealth bank, opening up to foreign trade and removing tarrifs/quotas/subsidies, breaking up governement monopolies, labour accords, and industrial relations reform. Sure there was a huge recession, but this was a global issue. Perhaps they could have managed it better and reduced the impact here. In more recent times the threat of the GFC was contained and domestic. Impact reduced.
By comparison over that time the liberals have given the GST and associated tax reforms. The GST itself is an inequitable tax that hits low income brackets much harder and applies to those who had previously been legally tax free. It did streamline the tax system, and eradicate a bunch of over laps or unnecessary complications. It was an economic windfall for the state and federal governments and one of 2 things I think are feathers in Howard's cap. Getting re-elected after the shit show of making it happen was also an achievement. I'm not sure what else one can really trumpet here, the NBN? The privatisation of telstra is probably a run on the board. So you bet they have some sour grapes!
Labor don’t have a rebuttal for it, that’s why it keeps being spruked.
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They have a great story to tell of economic strength and leadership, they just fuck up telling it.