Labor will go into the election campaign linking any increase in mortgage interest rates to the federal budget and blowouts in government spending, with shadow treasurer Jim Chalmers warning the Coalition is risking the financial security of heavily indebted households.
The last time the RBA, which holds $360 billion in government debt, lifted rates was in November 2010 as the economy recovered from the global financial crisis.on one-off handouts, reductions in fuel excise and a $420 increase in the low- and middle-income tax offset to deal with cost-of-living pressures. The now $1500 offset will inject more than $12 billion into the economy in the second half of this year.
“We know rising mortgages are bound to impact the recovery and the comfort of households in deploying the $250 billion worth of savings on their balance sheets. So we take these risks seriously.”equate to 0.3 per cent of GDP over the next four years, while the Coalition’s budget decisions are worth 1.5 per cent of GDP over the same period.pledge to end reckless spending“This reckless rorting and wasteful spending must stop.
“They know is not a reality show, not based on who they like or don’t like. They know it is about the economy they will live in as a result of the decisions taken by the government,” he said.
Labor’s push for wages growth will also drive up inflation. LNP is trying to provide money to manage inflation costs and ALP is trying to manage it via wage increase. Net outcome is the same, Australians will be no better off. Interest rates have been too low for too long.
Lol what ever happened to the four Budget surpluses Swanny announced?
DebtandDeficitDisaster from the self appointed masters of financial propriety.
JoshFrydenberg Has mismanaged the economy
So Chalmers (who aspires to one day only be a complete buffoon) will lie. Again. Might make for a bit of change if you lot actually call him on the drivel he produces. How about it team?