Federal leader of the Palmer United Party and Member for Fairfax, Clive Palmer, has criticised the Federal Treasury’s pending 2015 Intergenerational Report (IGR) as nothing more than naval gazing.
Mr Palmer said he expected the report which will be released by Joe Hockey in the coming weeks, to be based on the flawed idea that Australia’s debt was out of control.
“The Abbott Government wants all Australians to continue tightening their belts, built around a fairy tale that this nation is on the brink of financial ruin.
“The debt problem in Australia simply isn’t real. The powerhouse of Germany has a debt of more than 50% of GDP whereas in this country the figure is more like 12%.
“As we will see with the release of the Intergenerational Report, this government has no idea how to grow an economy.
“The only response they have is to cut and burn, which only decreases domestic activity and productivity.
“The Abbott Government only looks backwards instead of forwards. It needs a creative approach and an outlook that engages in policies of growth and productivity,’’ Mr Palmer said.