Barnaby Joyce has vented his criticism at the government’s stimulus plan in a lengthy Facebook post.
The member for New England and former deputy prime minister questioned whether Australia would be able to repay the debt it is now going into.
“I hear the noble minds say that money we owe someone else is not a problem but I as an accountant and so by bitter experience disagree.
“You must repay or enter the books of others as a bad debt. If you print money then you get to a point you can wipe your bottom with it.”
Mr Joyce also criticised the Labor Party for supporting the government’s stimulus plan.
“It is not surprising that Labor agrees to booking things on the nation’s credit card whilst asking for even more to be put on the national credit card; but the role of the opposition is to query all aspects of any legislation to ensure all areas have been thoroughly addressed,” Mr Joyce said.
“Labor appears to have gone missing in this vital role, even though these views are currently a politically incorrect position.
“You can’t say you disagree with the level of debt whilst as a party you ask for more.”
In his Facebook post, Mr Joyce did not resist the urge to say “I told you so”.
“Some of my colleagues thought I was a drama merchant and ‘crazy’ when I noted my concerns about the coronavirus in China back in February,” he said.
“Here is my egotistical self-affirmation, I was right.”
The former Nationals leader said that we may be only months from a human vaccine.
“The University of Queensland is to be commended for their part in this multinational Herculean effort,” he said.
“Unfortunately there is no vaccine for the effects on the economy.”
Mr Joyce was one of the MPs actually in Parliament when an $84 billion stimulus plan was passed late last month.
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