Poor policy results in poor outcomes

John Bentley, Tongala, Jun 14, 2024

There has been much ado about the so-called Reserve Bank of Australia’s modus operandi, but most of all, it overlooks the fact that the RBA is an instrument of the Federal Government, independent or otherwise.

The Feds make policy, the RBA doesn’t, and it’s this policy which governs the fortunes of Australia and the RBA. Policy governs everything we do whether we like it or not and 30 years of poor policy has created mounting inequality and poverty. We are now reaping what we have sown!

As we have seen with the pandemic, we can afford to do just about anything and everything for the benefit of the country. To waste $368 billion on some submarines is one example of poor policy.

That is just the tip of the iceberg as far as poor policy is concerned: housing, education, health you name it and we can stuff it up without batting an eye-lid. And that’s before we get to immigration and the population policy we don’t have. Nor do have the intestinal fortitude to have a fair dinkum overhaul of our taxation system which benefits the wealthy at expense of the rest of the country.

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