Treasurer says it is ‘uncontroversial’ for unions to note that wage rises are below inflation, and suggests there may be a place for workers’ representative on RBA board
, assuming the bank can get inflation back into the 2%-3% target range.
“Phil Lowe is making a similarly uncontroversial point, that if you let inflation out of control, that is damaging for people’s living standards.” “That’s a difficult situation we need to deal with before inflation moderates throughout the course of next year hopefully.”“Inflation will be significantly higher than what was expected in the last government’s most recent budget, what was expected at election time as well.
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