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Matt Canavan says a further interest rate hike could be the 'straw that breaks the camel's back' for families, blaming government spending for inflation. Follow live.
Wilson says rising unemployment not the 'sole solution' to curbing inflationsays he doesn't think unemployment rising above 5 per cent is the "sole solution" to fixing inflation.
The Reserve Bank of Australia of expected to increase interest rates today, which could bring it to the highest cash rate in 15 years. Wilson has accused state and federal government's of forcing the hand of the Reserve Bank's hand for inflationary spending.if he were in government he would pair back "honeypots" such as the NDIS, home aged care packages and childcare.
"We need to focus on value for taxpayers' money. It's not that honest taxpayers' money is going to dishonest means, it's also stoking inflation," Wilson says.
"This government has continually engaged in denial about the problems of their spending and how it is putting upward pressure on interest rates. The Reserve Bank has consistently said that this is a problem. Now, we need action from the government.
"Canavan blames government spending ahead of expected rate hikesays today's expected interest hike could be the "straw that breaks the camel's back" for many families. The Reserve Bank of Australia will hand down its interest rate decision today, and they're widely tipped to hike the cash rate. , Canavan has blamed government spending for fueling inflation which is one of the reasons keeping interest rates high.
"The problem we have as Australians right now is we have a government that cannot admit its problems. If you can't admit there is a problem, how can you fix it?
" Canavan says. Hello and welcome to our federal politics live blog. It's great to have you join us early on a Tuesday morning.live from Parliament House in Canberra, here and ready to bring you all of today's federal politics news.widely expected they will hike ratesIf the central bank decides to increase rates by 25 basis points, it will bring the cash rate to the highest in about 15 years.
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