Profile picture
Australia Institute @TheAusInstitute
, 19 tweets, 6 min read Read on Twitter
.@BenOquist kicks off GFC 10yr anniversary of fiscal stimulus policy, at @TheAusInstitute
“the package will be remembered as one of the great economic interventions of our time.” - @BenOquist
“understanding what happened 10 years ago, what we did 10 years ago and what we’ve learnt from what happened, is important” - @SwannyQLD
“10 years ago we were talking about economic volatility we hadn’t seen for 80 years.” - @SwannyQLD
“the 7 days which led up to the announcement of this package, were the 7 most momentous days of my life” - @SwannyQLD
if government didn’t intervene, make no mistake, we were heading towards a Great Depression
make no mistake, when we took the decisions we took, we knew we would be hung drawn and quartered by the conservative side of politics - @SwannyQLD
this isn’t just navel gazing, what this shows is government’s action for good, good public policy based on good instincts is what works for people - @SwannyQLD
“thankyou @SwannyQLD, world finance minister of the year doesn’t scratch the surface of what he achieved. Australia added 1 million jobs in that period when globally 31 million jobs were lost.” - @tanya_plibersek
“Ken Henry said ‘go early, go hard and go households’ and that’s exactly what we did” - @tanya_plibersek
they say never waste a crisis, and we knew we wanted to address homelessness, and construction was a huge employer. it gave us an opportunity to do something.
meanwhile Julie Bishop said we should sit and watch and wait. if we had done that there would have been an entire generation of unemployed people.
the construction industry employs 9% of Australia’s workforce, so you can imagine what a fall in construction does.
.@tanya_plibersek introduces @JEChalmers to the mic, current Shadow Finance Minister, and @SwannyQLD’s Chief of Staff at the time of GFC.
“what @tanya_plibersek understood probably better and faster than anyone else is that this was an opportunity to make some lasting good.” — @JEChalmers on the GFC and response
“what began as a concern we were doing too much, soon became a concern we were doing too little”
it also sent a signal to the Australian people they weren’t on their own. and it improved consumer / business confidence to know.
compared to scorched earth outlook where when something bad happens they’re on their own. certainly 10 yrs ago people knew they weren’t alone.
our research, which shows that 62% of Australians *do* think the stimulus package did save us, shows us that perhaps there is a disconnect between political class and the Australian people
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Australia Institute
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!