Wed 9 June - In any decision to invest, wise investors look at three things – the quality of the management of the company you are investing in, their track record, and the underlying numbers.

I also believe it’s the right way to judge a government on its economic performance.  What are the values, culture and philosophy of the team?  What is their record of implementation? And how reliable are the assumptions that underpin the forecasts?

The importance of these questions is that a Budget is only as strong as the team that will implement it.  I’m sure investment analysts would be very suspicious of any company that have had four CEOs in five years and over 200 changes in its senior management team in the same period.  Yet this is the management turnover of the NSW Government...