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Unless the Federal government cuts spending, the budget will stay in deficit forever according to Tony Shepherd

Tom Elliott
Article image for Unless the Federal government cuts spending, the budget will stay in deficit forever according to Tony Shepherd

Unless the Federal government cuts spending, the budget will stay in deficit forever, according to prominent businessman, Tony Shepherd.

Speaking on 3AW Drive, Mr Shepherd said Australia needs to get the budget on more sustainable footing and reduce its collective dependence on welfare.

‘The bottom line is it’s the welfare payments…we have to try and get that expenditure under control, it’s going to be hard, it will have to be incremental…we’ve got to try and get the trajectory going in the right way’.

In a report commissioned by the Menzies Research Centre, the Shepherd Review: Statement of National Challenges, looked at why many Australians feel they are struggling to get ahead. 

‘Debt and deficit is not the answer, it’s going to leave a big burden for their children and grandchildren, we’ve got to get some economic reform to get genuine growth, and then they’ll get more real jobs, more real hours, less temporary work and a far more certain future’.

Click PLAY to hear Tony Shepherd on 3AW Drive

 

Tom Elliott
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