Fiscal debate should be about taxes, not prudence

THE opening day of the Budget debate on Tuesday saw lawmakers raise concerns over fiscal prudence and sustainability. Indeed, this was a core theme that emerged, and one that looked to have found resonance.

But the way the debate has evolved so far seems to have mostly missed the most important point.

For a country known for its fiscal discipline, with sovereign debt that is triple A-rated and reserves that are the envy of most, worries about fiscal imprudence would appear out of place.