Albanese is proposing a return to the industry intervention that economic optimists thought substantially ended in 2017, when car-manufacturing subsidies for Ford, Toyota and General Motors were finally killed off.Predictions of devastating joblessness never eventuated. Within a few years employment was full. The cultural consequences were negligible. Drivers don’t care that Ford utes are made in Thailand.
Spending decisions by the Albanese government have cost $35 billion, according to a calculation by Chris Richardson. Tax rises imposed by government policy changes are up about $28 billion.
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