Topic: Sustainable Economic Policy
Country: Australia
Delegate Name: Zachary Willoughby
School: Kalamazoo Central High School
Topic page: background guide and all position papers All Australia position papers GLIMUN 2015 committees
The Commonwealth of Australia prides itself on being very self sufficient from foreign entities. We have the Department of Infrastructure and Regional Development that tracks the growth and development of infrastructure throughout the multiple sectors within our economy. Governments should consider similar institutions within their governmental systems in order to accurately gauge the severity of failing economic sectors. In doing so, they can take the proper action to boost the failing or failed sector without the "guiding hand" from other foreign entities. These institutions allow a country to maintain sovereignty within both their economic and political systems without the need of a large economic bailout, as seen in Greece earlier this year.
Governments should not spend more money than they raise in taxes in order to avoid crippling debt within the economic system. The trend of spending more than the raise in taxes creates a public debt that most countries cannot recover from. This trend causes a very strong need of foreign economic aid, although most countries would prefer to remain economically sovereign. Situations like these create a very strong sense of depravity among citizens who prefer foreign aid and those who do not prefer foreign aid. This was again seen in Greece, with many citizens having dissenting opinions, leading to a very close national vote that could have resulted in national riots. Countries should practice austerity, which results in very strong economic policies that work to cut national deficit through tax rises or spending cuts.
The Commonwealth of Australia has implemented many measures within our our national budget. These include a 5 billion dollar tax relief to developing and small businesses within our economy that are striding towards excellence. This stride will also be boosted by a 5.5 billion dollar Jobs and Small Businesses package that was implemented on May 2nd, 2015. Within the same budget, we implemented the Multinational Anti-Avoidance law, which stops businesses from artificially avoiding tax. This creates equality in the taxation within Australia, and thus provides steps towards a better economy. We are also focusing on the lower and middle class families in Australia with a 4.4 billion dollar boost to sectors that benefit families. We delivered a 3.5 billion dollar reform package that makes child care more reliable, flexible, and accessible, which promotes more participation in our workforce. We funneled 843 million dollars into our preschool programmes to ensure students get a solid start and a bright future at a young age. All of these things have led to a steady government surplus, despite a 52 billion dollar write-down in tax receipts. With this success, the deficit is steadily dissipating with every fiscal year.
The delegation of Australia looks forward to working with other delegations to resolve the issues or confusion that lies within sustainable economic policy, and hopes to convince other delegations to consider programs implemented by the Commonwealth of Australia.
