What The World Can learn From Australia!

Ok, time for some positive news about Australia!

The Economist during the week opined an article titled “What the world can learn from Australia”.

In this age of political uncertainty and more, a calm look at the facts is a welcome relief!

In part, they covered some great facts like:

• Rising incomes, low public debt, an affordable welfare state, popular support for mass immigration and a broad consensus on the policies underpinning these things—that is a distant dream in most rich countries

• Luck has had a hand in these feats, to be sure. Australia is blessed with lots of iron ore and natural gas and is relatively close to China, which hoovers up such things. But sound policymaking has helped, too. After the last recession, in 1991, the government of the day reformed the health-care and pensions systems, requiring the middle class to pay more of its own way. The result is that Australia’s government spends just half the OECD average on pensions as a share of GDP—and the gap will only widen in the years ahead.

• Even more remarkable is Australia’s enthusiasm for immigration. Some 29% of its inhabitants were born in another country—twice the proportion in the United States. Half of Australians are either immigrant themselves or children of immigrants And the biggest source of immigrants is Asia, which is fast changing the country’s racial mix. Compare that with America or Britain or Italy, where far smaller inflows have generated hostility among a big portion of the electorate—or Japan, where allowing foreigners to settle in any numbers is a political taboo. In Australia, both main parties argue that admitting lots of skilled migrants is essential to the health of the economy

There you go, as the sun shines brightly upon us this Summer, let’s not forget the positives we have in place in this great Country of ours!

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Warm Regards,

Troy