The GFC Didn't Change The Rules Of Economics: Tony Abbott

Davos Abbott Abbott giving his keynote address at Davos. Photo: Screengrab

Australian Prime Minister Tony Abbott has told the World Economic Forum in Switzerland his country would use its presidency of the G20 to become “missionaries” of free trade.

He also, according to this ABC News report, told the audience that stimulating growth was the only way to encourage global progress, and that the the economic crisis didn’t change the rules of economics.

“You can’t spend what you haven’t got,” Abbott told the meeting in Davos.

No country has ever taxed or subsidised its way to prosperity. You don’t address debt and deficit with yet more debt and deficit.

“And profit is not a dirty word, because success in business is something to be proud of.”

There’s more here.

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