Coalition policy relying on hope instead of facts
Since the economic crisis erupted five years ago it has been clear that many years of remedial measures would be needed to manage the economy back to health. Working through a deep public finance crisis, with a collapse of the banking system thrown in, was always going to take time and patience. Unfortunately the approach of this Government and the last has been reactive, long on tactics and short on strategy. The borrowing is being brought (slowly) under control but the reform of policy is half-hearted and patchy. The banks are still not fixed and the credit-supply system, on which indigenous firms must rely, is not functioning as it should.