RBA board member John Edwards, speaking in a Wall Street Journal interview
Says under the previous Prime Minister action on fixing the Australian budget deficit had stalled
Says the treasurer did not have support from the previous PM to fix it
But with the new PM comes the opportunity for action:
- "The issue that is most prominent, that we have to resolve before we move to other things, is the awkwardness of the size of the budget deficit, and the likelihood that it will remain very wide in five or six years"
- "That is what the incoming Treasurer has got to come to grips with"
More here (ungated), and here (may be gated)
John Edwards of the RBA. I don't think he has a cat. or a hat.
