I may have also been thinking of the 'Independent Australia's Ranking on Economic Management. This records data (not opinion) for the top 30 developed economies on income per person ; economic growth ; median wealth ; jobs ; inflation ; taxation ; government debt ; and economic freedom (which may be more subjective).
Australia came in at 9th in 2007. Then 1st in '08, 3rd in '09, 4th in '10, then 1st in '11, '12 and '13. Enter the Libs : 3rd in 2014, 9th in '15, 13th in '16, 18th in '17, 21st in '18, 28th in '19, 19th in '20, 23rd in '21. Stats can be interpreted and spun. But I don't think anyone can spin that lot to produce anything that goes close to backing up the Libs' constant boasting of superior economic management.
The consensus among economists internationally (excluding those writing for News Ltd) was that Australia's economy had performed exceptionally in 2009. Of the 36 member nations of the OECD, Australia was one of only 3 to avoid sliding into recession, and achieved the highest annual growth of GDP, at 5.1%. There are other measures of economic performance, but Australia led the pack on most of them in '09. EG, we had the 3rd-lowest level of debt (relative to GDP.
I think I said our economy was rated no. 1 in 2013. I should have said 2009. But it was still in the top 5 (tbc) when Labor lost the election in 2013. Hardly the disaster that the Liberals like to maintain, as if repetition can transform fiction into fact.
Yes, last time they were in office, Australia's economy was rated the best-performing in the world. Disgraceful, eh?
Rated by who?
When?
Their credentials to make such a determination?
Please educate me.
I may have also been thinking of the 'Independent Australia's Ranking on Economic Management. This records data (not opinion) for the top 30 developed economies on income per person ; economic growth ; median wealth ; jobs ; inflation ; taxation ; government debt ; and economic freedom (which may be more subjective).
Australia came in at 9th in 2007. Then 1st in '08, 3rd in '09, 4th in '10, then 1st in '11, '12 and '13. Enter the Libs : 3rd in 2014, 9th in '15, 13th in '16, 18th in '17, 21st in '18, 28th in '19, 19th in '20, 23rd in '21. Stats can be interpreted and spun. But I don't think anyone can spin that lot to produce anything that goes close to backing up the Libs' constant boasting of superior economic management.
The consensus among economists internationally (excluding those writing for News Ltd) was that Australia's economy had performed exceptionally in 2009. Of the 36 member nations of the OECD, Australia was one of only 3 to avoid sliding into recession, and achieved the highest annual growth of GDP, at 5.1%. There are other measures of economic performance, but Australia led the pack on most of them in '09. EG, we had the 3rd-lowest level of debt (relative to GDP.
I think I said our economy was rated no. 1 in 2013. I should have said 2009. But it was still in the top 5 (tbc) when Labor lost the election in 2013. Hardly the disaster that the Liberals like to maintain, as if repetition can transform fiction into fact.
Really good explanation.
Cheers