“The job of the Treasurer is to build a stronger Australian economy, yet Treasurer Jim Chalmers is talking down the economy, stoking inflation and dancing on falling property prices that is destroying the wages and wealth of Australians”, said Shadow Treasurer, Tim Wilson.
Mr Wilson’s comments follow the Treasurer welcoming bank forecasts of significant declines in property values since the Albanese government’s Budget.
“Australian's wages are falling behind because of the Albanese active inflation agenda, and property prices are falling because of the Treasurer's Budget, and the only response from the government is popping champagne corks”, Mr Wilson said.
“The spin from the Prime Minister and Treasurer doesn't hold as industry data clearly shows rents are rising and the price of entry-level first homes is rising, while the higher end of the property market is falling with first home loan applications”.
“This budget has driven a freight train through confidence: families’ savings in their home have been smashed, while renters pay more and first home buyers are paying more. This is a lose-lose scenario by design from a Treasurer intent on talking the economy down”.
“The Albanese government’s active inflation agenda is stoking inflation, taxing inflation, and spending inflation in a vicious cycle that is sending Australians backward, and forcing the hand of the RBA to keep interest rates high, with warnings of another two rate rises this year”.
“The RBA should be looking at cutting interest rates, but because of the Treasurer’s addiction to spending and inflation, they have to contemplate increasing rates, pushing even more pain on Australian families”.
“Falling wealth and wages isn't going to spare Australians from the Albanese active inflation agenda that is daring the RBA to increase interest rates”.
“Only the Coalition has a plan to protect Australians’ wages and salaries from the Albanese government’s active inflation agenda through our Tax Back Guarantee, which will deliver a permanent, larger tax cut every year to every Australian worker”.