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2010-05-21

Dr John Hewson argues for an independent fiscal authority

It is good to see that Dr John Hewson, a former liberal leader and the one who lost the unlosable 1993 federal election due to his GST component and Paul Keating's successful scare campaign tactics, is now arguing for an independent and depoliticised fiscal authority. See the feature article on the Australian Financial Review, page 58, 12/05/2010.


I have previously argued for more independent public institutions, including an economic authority on both fiscal and monetary matters, for scrutiny and public and independent advice, as well as evaluation.

Such an economic authority will be able to design the best mix of fiscal and monetary policies in the national interests beyond partisan politics, as what is taught in economics textbook.

Publically funded independent institutions will strengthen the quality of public policy making and implementations.

It will complement the current form of democracy by combining elected politicians with much stronger, independent and non-political advisory and information. It will improve the current form of democracy.

Hewson's advocacy is a very helpful development and an important step in that direction.

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