Finance Minister Mathias Cormann evoked memories of the Cold War when he gave a speech to the Sydney Institute on the evening of August 23, on the subject of "Policies for Opportunity vs Politics of Envy".
Senator Cormann's claim is sensationalist. There is no settled definition of "socialism" or "socialist policies". Socialism is a collection of ideas that have been subject to vigorous debate since the 19th century. One form of socialism is centred around public (i.e. government) ownership of "the means of production, distribution and exchange". The Australian Labor Party's national platform has long included an objective of "democratic socialism" along these lines "to the extent necessary", but it is not reflected in the party's current policies. Labor is not proposing nationalisation of Australian industries. A broader definition of socialism includes policies that use the taxation system to redistribute income and espouse government intervention in the market economy. On that basis, some of Labor's policies are, strictly speaking, "socialist". The current British Labour Party leadership and US Senator Bernie Sanders argue for similar policies, and openly describe them as socialist. But Senator Cormann goes too far when he talks of the Berlin Wall and the "system of government" that existed in Eastern Europe between 1945 and 1989. That failed totalitarian and oppressive system bears no resemblance to the policies of Australia's Labor Party.
Fact check: Are Labor's policies socialist?
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