Chris Bowen, a key backer of returned Prime Minister Kevin Rudd, was sworn in as Australia’s third treasurer in 17 years and faces the challenge of reviving a slowing economy as a mining-investment boom wanes.
Twice as many civil servants than mining workers were hired in Australia’s 10-year resources boom, enlarging the bureaucracy and inflating public spending. Cutting back is now a priority for a government seeking budget savings.
The Australian government is genuine in its discussions with the nation’s mining industry over the proposed tax on resources companies’ ‘super’ profits, Chris Bowen, a minister in Prime Minister Kevin Rudd’s cabinet, said in an interview today with Sky News.
Kevin Rudd was sworn in as Australian prime minister for his second stint in the post, tasked with reviving the ruling Labor party’s prospects in the next election as it trails the opposition in opinion polls.