On Petrol Prices
The recent kerfuffle between the parties over who has the best strategy for cutting petrol prices - the Liberals pushing for “at least” 5 cents a litre cut in the excise, and the government considering lifting the double-tax of the GST on the excise - effectively cutting 3.8c - is astonishing in its short-sightedness. The Liberals above all are aiming for populism, to say to the people that hey, we’re doing something real about petrol prices. The government appears to be aiming for a pragmatic populism - to say we’re doing something, but we’re not as reckless as the opposition, and we’re doing a “sensible” tax cut. Both appear to fail to acknowledge that the price fluctations could wipe out their cuts in less than a day. ...