ANY DOUBTS that Kevin Rudd and Labor have lost the plot completely when it comes to economic management will be dispelled once and for all today, as the government announces a plan to raid bank deposits; the measure is unnecessary, unfair, and will hit everything from salary payments to savings.
It’s one of the most despicable pieces of public policy ever devised, in my view, although — just like the rise in tobacco tax announced earlier this week, justified by fictitious figures on health costs — it shows just how poor the ALP is at managing the federal budget.
And if the perhaps terminal assault launched on the car industry recently didn’t convince people just how poisonous and incompetent any government led by Kevin Rudd would be, this “initiative” should dispel any doubt once and for all.
In a truly appalling move, deposits held in retail and commercial banks will…
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