Comments on the report “Swan welcomes IMF assessment”, 25/06/2009, http://www.businessspectator.com.au/bs.nsf/Article/Swan-welcomes-IMF-assessment-pd20090625-TBTTF?OpenDocument
This is another poor and desperate show by a desperate man the Treasurer.
Swan selected what was good for him while avoid what was bad for conveniently. For example, the following sentence is quoted from the IMF report: "Output will likely remain below potential for a number of years, reducing core inflation."
What does that statement by IMF suggest of his budget projection of above trend growth of 4.5% from 2011-12? The Treasury growth forecast has been questioned and criticised by some economists and commentators in Australia. Why didn’t Swan mention that IMF indicates his growth projection is unrealistic?
An interesting and awkward selective performance by an incompetent and politically seriously wounded Treasurer who should resign over the OzCar affairs, but stubbornly refused to do so helped by a mistake by the opposition leader in his tactics.
While it was lucky for Swan for now, it is bad for the nation and the country. The taxpayers will suffer more from his incompetence in managing the economy and the government budget. It remains the case that the earlier this incompetent Treasurer resigns, the better for him, the government, Labour, taxpayers, the nation and the country.