What a difference 12 months and more makes.
In today’s Business Spectator column Stephen Koukoulas writes:
The budget surplus or deficit, level of debt, interest rates and value of the Australian dollar are the tools used to achieve those objectives and are not the target in themselves.
In April last year he was saying:
I see today there’s a flood of commentary saying govt shouldn’t aim for surplus: But none of saying what budget objective should be.
— Stephen Koukoulas (@TheKouk) April 12, 2012
At the time I replied:
the result of a budget is an outcome not a policy tool
And the response I received was
What utter rubbish…
The full conversation can be seen here.
Good to see him change his mind and that we are more or less on the same page!