Shadow finance minister Jane Hume has declared the government has 'no plan' to tackle inflation and cost of living in the upcoming budget as fears of a recession grow following the Reserve Bank's decision to raise interest rates on Tuesday.
Shadow finance minister Jane Hume accused the government of having"no plan" to tackle inflation as she responded to the Reserve Bank's decision to raise interest rates to 3.85 per cent on Tuesday.
"Our concern, of course, is that Labor has no plan to tackle inflation, tackling inflation is a team sport. She added the latest hike, which came as a shock to markets and households, showed the government"could be doing more to help the RBA in its quest to bring inflation down." "Families are doing it really tough, they have to make really difficult decisions with their household budgets, so the government has to do the same with its Budget."
He told Sky News Australia there was"already enough in the system, in terms of interest rate rises" and there were signs the economy was beginning to slow.
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