, Columnist
They're Getting Things Back to Front Down Under
Australia’s weakening economy needs a shot in the arm, so it’s a shame most of these tax cuts won’t take effect for years.
Economy looks fine from where we are.
Photographer: CraigRJD/iStockphoto/Getty Images
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From the perspective of the rest of the world, Australia appears to be upside down. Its government budget, on the other hand, is back to front.
Superficially, the A$158 billion ($111 billion) tax cut package passed by the country’s House of Representatives Thursday looks like just the sort of measure needed for an economy crashing to earth.