Prosperity missing from treasurer’s triple-p plan

Treasurer Josh Frydenberg has codified his economic strategy as PPP – population, participation and productivity. This is a poor piece of policy. I would change the first objective to prosperity. Population is a foolish objective. Increasing our population by migration increases gross economic activity but does nothing for individual wealth. Governments have to spend vast sums of our money on unproductive ‘‘congestion-busting’’ projects. The quality of life goes down as our population expands and becomes unmanageable. Surely the pandemic has shown Mr Frydenberg this much.

Gordon Payne Australian Financial Review 2 October 2020

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