“So unless you get inflation under control you’ve got no hope with interest rates,” deputy Liberal leader Susan Ley accuses Labor of pushing up inflation with “$45 billion in off-budget spending”.
The criticism follows the Reserve Bank of Australia’s decision to increase the cash rate for the 10th consecutive time, with the increase of 25 basis points taking the cash rate to 3.6 per cent – the highest level since May 2012.
The Liberal MP acknowledged there was a global component to the inflation problem but said that after listening to the Prime Minister in question time, it sounded like he had “given up.” Deputy Liberal leader Susan Ley said the Albanese pre-election claim"Life will be cheaper under me" was a proven failure. Picture: Sky News Australia
“They’re an example of this government just reaching for the red ink, borrowing more money. Off-budget funds are definitely pinged by the IMF as being a problem for pushing up inflation and therefore pushing up interest rates,” she said.Ms Ley said the government’s failure to get inflation under control was just one of the ways they had betrayed their key election message.
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