Get ready for an avalanche of election giveaways that will put Santa to shame
To put it bluntly, the nation is in peril. It's no exaggeration to conclude that the ground under election platforms appears shakier with each passing week. Our economic history is punctuated by binges of electioneering, plunging the country into a subsequent decade of debt and recession.
The stream of leaks and titbits of manifestos merely confirm that political leaders are reverting to type. They're convinced votes are bought on the strength of populist tax cuts and extra spending.
The general elections of 1977 and 2007 came with instant sickly sweeteners. Thus we saw house rates disappear, motor tax vanish, massive welfare hikes, income tax reductions and public pay enhancements.