Canavan's Economic Revolution: Costs & Benefits

0:00National's leader, Matt Cannivan, is pushing what he calls an economic revolution to fix Australia's future prosperity. His big idea tackles how to build a tougher, safer, and cheaper economy without killing growth. He wants to drop net zero goals, ramp up oil and coal mining, construct more dams in new cities, cut immigration, boost birth rates, and shield local, industries from foreign rivals. This plan echoes mid-20th century thinking, dropped into the 21st century. Critics say it would pile on government debt from massive public projects. Businesses might chase handouts instead of competing, and everyday folks could face higher prices for homegrown goods. Subsidies to offset, that would just deepen deficits. Prime Minister Anthony Albany's fire back last week at the National Press Club, calling out plans to rewind to the 1950s or 60s as. Fake solutions for housing, jobs, and wages. Globalization gave us cheap stuff like clothes and cars, but pandemics and conflicts expose risks in relying on imports for fuel, meds, and fertilizers.

1:06Take fuel as an example. Australia shut most refineries for cheaper overseas supply, now down to two, proud by billions and taxpayer cash. Refining half our needs here would boost security, but might hype petrol by 10 cents a liter or more. Similar trade-offs hit other key sectors, demanding real talk about costs for security. Canadian nails Albany's as stuck in status quo mode, questioning if small tax tweaks can revive living standards. With the budget looming as the government's boldest yet, Australia needs real ambition to counter-frayed global ties, or more folks might chase that. Revolution Mirage. Local news, powered by AI. This is Sydney News Today. I'm Corey with the story.