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Since the Howard government, Australia’s per capita growth rate has slumped and wage growth has been anaemic, while housing prices have skyrocketed relative to household incomes. Commonwealth net debt has surged; the nation’s birth rate has fallen to its lowest level ever, presaging serious problems with population ageing; and Australia has become much more vulnerable to an economic shock than we were prior to the Global Financial Crisis.
In response, however, much of our national economic policy debate has been shallow, philosophically incoherent, impractical, or focused on commitments off in the “never‑never” rather than on concrete near‑term proposals.
In contrast, Restoring Hope by Andrew Stone lays out a coherent, comprehensive yet politically achievable economic agenda for a resolute federal government for the next three to five years. Encompassing immigration, the housing market, higher education reform, federal‑State relations, energy policy, workforce participation, welfare reform, budget repair, monetary policy and financial system regulation, the book demonstrates that good government, which addresses our key economic problems and yet earns the respect and support of the Australian people, is possible.