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Since the Henry Tax Review, thirty-two separate tax reforms are underway. There are many other important reforms in train. But what joy rises from the masses at this exciting infrastructure advance, the greatest in our nationвЂ™s history? Precious little. The cost savings in health care alone are estimated to be greater than the cost of construction of the network. We seem not to realize how lucky we are to have a government with the foresight to plan for a facility that will bring untold benefits to health, education, business, and agriculture, benefits that will place our nation at the forefront of telecommunications around the world. Yet there is not much exaltation, except among the experts. The Government is investing $36 billion in the National Broadband Network that will give most Australians the fastest and best broadband in the world. Yet, there are still those who bemoan the modest interest rates we enjoy, which they say are imposing an intolerable mortgage burden upon them. These rates are now nearer вЂnormalвЂ™ levels, and have been static for almost a year at 4.75%, with the promise of even lower rates should the economy decline.

We also had a Reserve Bank that collaborated with Government during the GFC by providing monetary support with lower interest rates, down to a cash rate of 3%. Yet, the people were still not satisfied. And in the process countless jobs were saved, unemployment controlled, and thousands of businesses kept alive in the regions as well as in our cities.

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Next, there was the $16.2 billion Building the Education Revolution comprising 10 475 projects in 7920 schools for new libraries, multipurpose halls, classrooms and the refurbishment of existing facilities almost a billion dollars for 537 schools to refurbish or construct new science laboratories or language learning centres and just over a billion dollars for 12 639 projects in 9462 schools for the refurbishment of buildings and construction or upgrade of fixed shade structures, covered outdoor learning areas, sporting grounds and facilities and green upgrades. The result was that retail sales were sustained, and then, via the HIP, a million ceilings were insulated, with savings to the occupants in energy costs, and reduced greenhouse emissions. It was well-planned Keynesian pump priming that saved our economic bacon, lauded internationally as вЂthe best targeted in the worldвЂ™. We were fortunate to have a proactive Government in power during the GFC, one that injected stimulus into the economy in three well-timed tranches вЂ“ cash, short-term construction, and longer-term infrastructure projects, now almost phased out. Finding workers is still more difficult than workers finding a job.

We have a so-called patchwork economy where finding labour is difficult in some places while unemployment, especially among youth, is too high in others. Unemployment never became as disastrous as it still is in the US, UK and Europe, and now sits at around 5% compared with 9% in the US where 14 million are out of a job. Of all the developed nations, we have come through the global financial crisis with flying colours, better than any other. Yet, if you believe the polls, as a nation we are angry, scared, and dissatisfied. We have untold natural resources: mountains of iron ore, enormous reserves of uranium, and enough coal and natural gas to last us a century.

And we have the most awe-inspiring country in which to live, вЂthe lucky countryвЂ™. We have almost half of the most livable cities in the top ten in the world. Melbourne is rated as the 2011 вЂmost livable city in the worldвЂ™, Sydney is sixth, and Perth and Adelaide are equal eighth.

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