Friday 17 Aug 2018 | 00:22 | SYDNEY
Friday 17 Aug 2018 | 00:22 | SYDNEY

Finance in la-la land

By

Fergus Hanson

@fergushanson

3 November 2010 12:35

It's too stupid to believe, but the front page of the Herald today has a story claiming the Finance Department wants to cut DFAT's already emaciated budget to offset the lost revenue from free trade agreements, agreements which Finance apparently argues cut tariffs and therefore government income.

Is the Finance Department for real' How is it possible the department charged with overseeing the national purse strings has been taken over by crazed mercantilists' Isn't the whole reason Australia has lowered its trade barriers and pursues FTAs because reducing barriers is not a zero-sum game'

The idea, if it is true, is moronic, but for the country's sake, let's hope it isn't true.