ScoMo does have economic agenda, just not what the media wants...

Christopher Joye

Coolabah Capital

In my column today I argue that ScoMo has a powerful economic policy agenda that will drive innovation, productivity and growth, it is just not the big interventionist narrative that the mainstream media want (click on that link or AFR subs can click here). Excerpt enclosed:

The widespread media consensus that Prime Minister Scott Morrison has "no agenda" is crap. Most critics do not see the agenda because they are projecting their own political prejudices.

ScoMo's agenda is about empowering individual exertion, aspiration and productivity through lower taxes, smaller government, balanced budgets and investments in infrastructure, education, health and national security that create equality of opportunity while fostering individual and collective success.

Any more ambitious reforms beyond this require substantial political currency that ScoMo has yet to accumulate—they will have to be developed and sold in subsequent terms...

In spirit, ScoMo's agenda is one of the first truly libertarian programs that we have seen in a long time globally where he is cutting taxes, enabling aspiration and, crucially, balancing his own books by running budget surpluses (noting the budget was, in fact, in surplus over the 12 months to March).

Many conservatives promise lower taxes, smaller government and fiscal responsibility, but struggle with the latter. Like his Republican predecessors, President Trump is Exhibit A in this respect, bequeathing huge budget deficits.

Read the full column here.

Christopher Joye
Portfolio Manager & Chief Investment Officer
Coolabah Capital

Chris co-founded Coolabah in 2011, which today runs $7 billion with a team of 33 executives focussed on generating credit alpha from mispricings across fixed-income markets. In 2019, Chris was selected as one of FE fundinfo’s Top 10 “Alpha...

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