Why is a rise in GST even on the table, never mind one so large? This is why the left is backing Malcolm to the hilt. The ALP could never get away with such a heist, but the Liberals can, since there is no doubt whatsoever that an increase in the GST to 15% will be supported by Labor. And it’s not just a 50% increase since they also wish to broaden the tax to include some of the current exclusions.

The meme that Tony was uninterested in economics never goes away, but he at least knew where he was trying to get to. He was let down by an incompetent Treasurer but there is no reason to think Abbott was uninterested in getting the budget to balance through lower spending.

Malcolm supposedly has a greater interest in economics, but what’s the point of having such an interest if you are so off the mark in understanding what needs to be done to get the economy to grow. Turnbull is a Keynesian. He wants to increase the level of public spending, and wants to rake in the cash so he can do it.

Making money in business is common. Understanding economics is a very different talent and skill, and it is one Turnbull most definitely does not have. If he manages to get the GST up to 15%, he will lead Australia into a recession the likes of which we have not experienced for many many years.