ECONOMY – GDP

(Gross Domestic Product)

The GDP is reported as a number by the media and political parties make a lot of the actual number of the GDP. In the Australian context there are essential 3 major financial divisions of the economy and as such the number that is given to the GDP is the number that a theoretical dollar goes around the economy. That is a measurment of business activity and yet as there are some very distinct divisions within the Australian context; therefore, this number become meaningless in so many ways as to the health of the economy, yet this is what these numbers are claimed to be able to determine.

Sales in the order of millions of dollars for very expensive products may indicate a healthy economy and yet the low-income earners are often struggling while such transactions are happening. In the view of Christians for Community it is wise to segregate the economy and its influences so that we get a better picture of the health of the economy. There are at least 3 natural divisions, as we see it, the under $100,000, the up to $500,000 and the above $500,000 sections of the economy. Most Australians earn less than $100,000 per year and so big-ticket items that affect the current GDP numbers do not give a real picture for the majority of Australians.

Policy:

• We will report the health of the economy in more meaningful numbers to reflect the real world for most Australians demonstrating a true reflection of the economy for the majority of Australians.
• We will effectively manage the economy for the majority of the Australians and not just to make it an economy for the more elite in our society.
• We will implement a jobs creation scheme to deliver full employment with meaningful jobs for who desire them. (Full employment will be determined by a liveable wage and not the current position of 1 hour a week)
• We will re-establish the manufacturing and other sectors of the economy shut down and sent off shore by previous administrations.
• We will see that the financial markets are far better managed delivering better outcomes for all their customers and are fully answerable to the regulators.
• We will be committed to low inflation and a stable currency against the world currencies.