OPINION: Treasurer Jim Chalmers is trying to balance the contradictory forces putting pressure on the economy – and the government’s agenda.
The only slightly good news about Australia’s inflation rate is that it is marginally less bad than the market had expected. It’s still terrible.is less than 2.1 per cent in January-March, but it translates into 6.1 per cent annually. That ensures another painful jump in interest rates next month.
Anthony Albanese used his first question time as Prime Minister to celebrate achievements such as the Fair Work Commission’s decision to award a 5.2 per cent increase to lower paid workers – just as he had argued in the campaign.He told parliament the business community looked forward to taking part in the jobs and skills summit in a month as part of the government’s “plan” to lift real wages and boost productivity by bringing business, unions and civil society together.
“Australians around the country are now paying a hefty price,” he lectured the opposition. “The mess that took you lot nine years to make will take more than nine weeks to clean up.”
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