State and Federal government are really entirely different roles, so I'm neither willing to let state Labor mismanagement off the hook nor blame Coalition (or recent Labor) Federal mismanagement for the current NSW economic malaise. This is squarely a NSW problem, as Vic's outstanding recent comparative economic performance surely proves.
And I'm happy to say it again for the record: Kennett's reforms in Victoria are the bedrock his successor Labor administrations have by and large successfully built on, so I don't subscribe to the notion that any specific political party has a God-given monopoly over either good economic ideas or the good execution of them. (As Rolf always says in finance matters, look to good performers rather than to flashy brands.)
Nor does one need to be reminded of the eminent role of the 'elder statesman' under Australian political convention as 'guiding light only', which is proper to their no-longer-elected status and, for the most part, is duly respected by all our erstwhile political leaders. Kennett should comment, yes, and should guide his disciples, but he should not be a leader in the shadows, just as no-one ever should be in a democracy. (And that perhaps is where NSW Labor went so wrong, above all.) Kennett, I believe, would very deeply agree with this, and that is a real mark of the man. He ongoingly deserves his eminence as do many very qualified others, mostly all of whom have appropriately quietly controlled their egos and have curtailed their public profiles (even Keating, on his own scale admittedly).
But I'm not talking politics now; I'm talking economics. Does anyone have any idea how to rebuild this near-shattered NSW economy, aside from removing layers of useless bureaucracy and cutting taxes? Because, there's no viable 'cutting taxes' option actually available if you're realistic: There's only a 'reallocating of taxation sources' option here given how broke we are, and that's assuming a growing economy. Less bureaucratic stupidity will surely help, but the growth does have to come in the end from vibrant businesses, soaring order sheets and confident consumers.
BV, Player - As seemingly non-superstitious fellows I ask you: We're probably the most blessed national economy in the world, so why the heck can't NSW get its groove on here?
