Opinion: Bold solutions to halt Australia’s worsening economic situation

IN view of the worsening economic situation in Australia and overseas, I would like to quote a few sentences from a book published in 2000 entitled What Australia Must Do to Survive the Depression.

n Scrap globalisation – it has decimated our industries and severely damaged our agriculture.

Compare this with Government plans to import overseas workers.

n Re-establish a people’s bank, i.e. the old Commonwealth, to generate funds for infrastructure, hospitals, schools and so forth within Australia.

Compare this with the private banks’ mega profits, most of which finish up offshore, thus escaping our tax system.

n Scrap privatisation – it is stealing from the people.

Compare this with plans to sell off the TAB and Western Power, short-term solution that will prove costly.

n Abolish GST – a regressive tax that affects the lower-income earners the most and replace it with a 0.1 per cent tax on speculative financial turnover.

Compare this with ideas to reduce taxes for the rich and ultimately widen the GST base and increase it to 15 per cent, which will adversely affect pensioners and low-income earners.

n Gain more control over our own oil and gas reserves. Peg petrol and gas prices to curb speculation.

Compare this with wildly fluctuating fuel prices and rich fuel companies whose profits again end up overseas.

n While migration is welcomed, multiculturalism is a pious fraud, pitting one group against another.

Compare this with the frequent racial problems.

n Wage a real war on drugs targeting the top-end dealers and large financial institutions that knowingly laundering this money.

It is obvious all this cannot be rectified overnight, but has been 40-50 years in the making.

P. COOKSEY, Coodanup.