Inflation is a huge problem for Australia.
On comparative inflation, Australia is worse than the US, Singapore, Germany, Spain, Japan, the Netherlands, Italy, South Korea, Canada, France, and the entire Euro area (as at June 2024).
The reason interest rates have gone up 12 times is because the Government can’t control its spending – and because of its reckless energy policy.
In three Labor Budgets, the Government has lifted spending by a staggering $315 billion – or $30,000 per Australian household.
The Reserve Bank Governor has sounded the alarm on inflation being home-grown.
Every credible economist has issued scathing assessments of Labor’s Budget because Labor has us in an inflationary hole and is still digging.
A Liberal government will deliver a back-to-basics economic plan.
This includes reining in inflationary spending, winding back regulatory roadblocks, lower taxes and more affordable and reliable energy.
We will also stand up for consumers, small businesses and farmers by delivering stronger penalties for anti-competitive behaviour in the supermarket and hardware sectors.