Some Australians believe the Albanese Government has failed to address the cost of living and say things will get worse.
The Government is Labor, but did Labor cause the problems?
I think not.
Why did the Reserve Bank reduce the interest rate to 0.1 per cent?
The result was an increase in the money supply and as a result people could get low interest loans to buy houses.
The increased money supply led to inflation and the need for corrective increases in interest rates, or a reduction in money supply.
But were original borrowers ever warned of possible increases of say 2-3 per cent?
Were they encouraged to sit down, do the sums and calculate how high repayments could be; encouraged to reconsider going ahead and spared much anxiety?
It is very unfortunate that low income people have been most hurt by this.
Some people want to rubbish Albanese, putting him in a bad light.
They are quick to be critical of a “broken promise” on stage 3 tax cuts, but I am pleased he did this as it helps low to middle income people.
Under the Liberal-Coalition (plan) they would get no help.
Under this Labor Government, Centrelink pensions are more generous so pensioners will spend more, so the money flows on to others who will spend more.
The slowing economy is global, not just here.
Measures taken by this Labor Government will stimulate the economy and reduce the unemployment rate.
Email, Mar 8
David Fulton, Umina Beach
Yes we are in a Global Crisis, and the Labor government has handled it very well. I also think that going back on the proposed tax cuts to high income earners is the best way going forward. The liberal party policies are all about helping big business and trying to convince us that trickle effect will benefit us. That has not been the case . Trickle effect has never worked it only makes business richer. The Liberal party are also partly to blame regarding our Electricity prices, by leasing our telegraph poles to China for 50 years and saying healthy competition brings down prices , well we all know now that is not true. Also all these new Toll roads that were built with Tax payers money than leased to private companies again for the next 50 years has robbed us blind. Yes tolls help build roads but should have never been leased out to private companies, and are way overpriced. Nowhere else in the world are motorist charged as much to use roads especially when we the tax payer paid to build them. Big business is always crying poor and can’t afford wage increases, yet pay CEO’s millions?? And as for Government spending you only have to check the last Liberal party to be in office to see that they put us in more debt than any other government in history,and that was before Covid. So people need to realise that this Global crisis was not caused by labor and that there is no easy fix . Also they need to realise that the Liberal party had ten years in office both federal and State and this is the outcome. The labor Party can’t fix everything in one year, but they have already made a difference in the right direction. Labor did not cause the housing shortage, you have to ask what did the Liberal Party do to increase affordable housing ? So Stop blaming labor for things that are beyond their control.There is no quick easy fix. but under labor we are heading on the right path.