The death-knell of neoliberalism in Australia is sounding louder, with a landmark policy recommendation inserted in the end of a Parliamentary report handed down mid-March.
Australia’s most experienced advocate for victims of predatory bank lending has slammed as “insane” Prime Minister Scott Morrison’s policy to lower bank lending standards to boost economic activity.
The recent fracturing of the neoliberal consensus that drove both major parties to mass-privatise national assets and hand control of the economy over to private banks is accelerating into a full-blown breakdown.