Joe Hockey Slams “Universal Entitlement”

Joe Hockey, the incumbent Shadow Treasurer, criticized what he calls the typical Western’s attitude for “universal entitlement.”

In an interview on ABC’s Lateline in London, Hockey said that those living in the USA and UK are particularly susceptible to this. He describes this as the kind of attitude where people have this “enormous entitlement systems” affecting key areas of governance like health, education, income support and benefits for retirees and unemployed.

In contrast, he notes, Asian countries like Hong Kong, adapt a concept of “filial piety,” wherein its citizens are working more for their own family than for the state. The Shadow Treasure said Westerners may this kind of concept as brutal but he said he believes that this is the reason why the country is financially stable.

He also said that in countries that do not have this level of entitlement, the tax people pay can be lowered and businesses are given the chance to thrive and be successful.

Hockey said this to point out how many governments usually have to resort to borrowing funds when revenues fall short. He acknowledges that while this is not the case with Australia, the government still has to reduce its spending.

He warned that Australia must learn to be prudent and vigilant when it comes to financial matters. He added that Australia will benefit more by looking at the examples of neighboring countries.

Hockey said gone are the days when everyone depends on unlimited and unfunded entitlement to government services and income support. He said that Australia is now in an era where leaders are much more wary about credit risks.

Tagged Hong Kong, Joe Hockey, UK, USA