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Australian Government To Achieve Economic Objectives

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Through the use of differing policies the government aims to achieve goals relating to economic growth, environmental sustainability and equitable income distribution. The government works towards achieving all goals related to the achievement of economic objectives such as economic growth, external stability, unemployment/ employment, inflation, income distribution and environmental sustainability. However, not all economic policy objectives are achievable and governments are required to make decisions on the necessity of objectives and pursue the ones they believe will benefit the Australian economy. Even so, the government has varying levels of success in achieving economic policy goals. The Australian government has used multiple economic policy objectives to achieve goals to …show more content…

Through economic growth the government aims to increased Australia’s standard of living and create the opportunity for increased investment in infrastructure and public services such as education and health. Through aiming to achieve external stability Australia aims to meet its long-term financial obligations to foreign countries so that future goals like higher growth and lower inflation are not hindered. Improving external stability is beneficial to the economy as it leads to reduce vulnerability to opposing developments in the global financial markets. The government objective of full employment involves the aim that the economy is at the non-accelerating inflation rate of unemployment. The economy benefits from achieving full employment and reducing unemployment as the economy’s capacity to produce is maximised, thus maximising Australia’s living standards. The government aims to create a fairer distribution of income and wealth. The government does not aim to remove all of the inequalities between individuals, as they recognise that free

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