Confidence surveys offer false confidence, says Hewson
Business confidence may be on the way up, but former federal opposition leader John Hewson isn’t confident it will last.
Hewson, an internationally-respected economist, leading academic, company director and entrepreneur in his own right, is unafraid to adopt what might now prove an unpopular position, and warns Keating’s recession we “had to have” is scheduled to make a comeback tour. This, he says, won’t be a pleasant experience for anyone involved: “The political pain that will flow from that will be as significant as economic pain.”
“The question is: what’s the price coming out? We’re building up a lot of debt.”
- John Hewson
Hewson spoke exclusively to Peter about the hot issues: Utegate, Rudd’s miracle stimulus packages (“It bought them some time”), and what he considers to be the false dawn of the Australian economy’s recovery – watch it now on Switzer TV