Julia Gillard’s Economic Embarrassment

The Hon. Joe Hockey

The Prime Minister’s unwelcome advice to world leaders to follow “the Australian way” is embarrassing.

The head of the European Commission Jose Manuel Barroso says Europe is “not going to take lessons and lectures from anybody”. Julia Gillard’s letter to G20 delegates on why they should get their economies in order backfired when European leaders said it contained no new ideas.

Mr Barroso notes Europe is ‘already doing a lot to protect the integrity and stability of the Eurozone.”

The Prime Minister is delivering a lecture for local political purposes only. Around the world no-one is taking the Prime Minister seriously because they understand the hypocrisy of Julia Gillard and Wayne Swan lecturing about fiscal responsibilities.

The Prime Minister should be asking herself whether any of the world leaders she is trying to impress are imposing a $23 a tonne economy wide carbon tax.

Instead of engaging in megaphone diplomacy the Prime Minister should be admitting to the Australian people how her record debt and record deficits compromise Australia’s international competitiveness.

Julia Gillard would be better placed to take a leaf from the Coalition’s playbook during the Asian Financial Crisis and offer behind the scenes regulatory and administrative support.