Welcome to Dr Lincoln's blog

Welcome for visiting my blog. Hope you enjoy the visit and always welcome back again. Have a nice day!


A short comment on a small point

Comments on ABC News Report "Bank strong but economy needs reform to maintain current living standards: NAB boss", 15/07/2015

This is a very short comment on only one small point. Mr Andrew Thorburn is National Australia Bank boss.

I don't know if Mr Andrew Thorburn really said this or not, but it is a paragraph (the seventh paragraph) in the ABC news report online that I read: 

Mr Thorburn said that change will not happen unless political and business leaders can clearly communicate why it is needed and how it can be implemented, and he fears if that does not happen, living standards will inevitably fall.

The point I would like to point out is the part "if that does not happen, living standards will inevitably fall".

I would argue that it will not be inevitable living standard will fall, it may be that the living standard will not rise as quickly as opposed to the case with some major and meaningful economic and structural reforms.

It is either an error (i.e. a misquote) of the reporter, or an oversight by Mr Andrew Thorburn, or a showing of the tendency of over sensationalising an issue or a point.

PS: for some background of the report, the following two paragraphs are the third and fourth paragraphs from that report as they are:

"There is no doubt that we cannot be complacent and we must recommit to further economic reform," he told the Trans Tasman Business Circle.

"I think the reality is that it has been quite some time in our country since there has been major economic and structural reform. I think we would have to go back to the GST in July 2000."

No comments:

Post a Comment