Nation needs a long-term vision

THE Labour Party conference this weekend cited the introduction of a higher rate of income tax for higher earners and the maintenance of employment as desirable political objectives in the current economic turmoil.

But as the politicians also avert their gaze to the longer term they must embrace strong, credible and realistic policies that result in the creation of productive wealth, jobs and recovering living standards.

We have learned a painful lesson that our nation’s prosperity cannot be overwhelmingly based on profligate lending by irresponsible banks for speculative property development, property inflation and the use of tax incentives that destabilise and unbalance markets.