And we don't buy you lefty anti-Sky News/The Australian political crap.

Both Parties do not spend the same way. The Coalition is far more fiscally responsible. It was caught in totally unusual Covid times 'n forced to spend to keep businesses afloat. That is very different from Labor Gov now spending like a drunken sailor purely for election reasons.

Here you have the Independent RBA taking the unusual step of warning this Labor Govt of the dangers of its 'election time' spending. That's what's keeping interest rates high and causing businesses to fold.
The sooner Dutton (& Jacinta) take the reins the better for the Australian economy and the sp.

TOM DUSEVIC

Big fiscal spenders risk higher interest rates

Reserve Bank governor Michele Bullock declared the board will remain vigilant in the fight against inflation. Picture: NewsWire / Nikki Short

• 8:31PM JUNE 18, 2024
• 30 COMMENTS

It’s white-knuckle time at the Reserve Bank. As Michele Bullock said on Tuesday, the central bank needs “a lot to go our way” to tame inflation without crashing the economy.

It’s a complex balancing act right now because the signals are mixed and much of what is affecting demand in the economy is beyond the RBA board’s control.

One of those worrying factors is big-spending governments, with elections in sight, and voters demanding relief from persistent inflation.

It’s a rare moment when the central bank’s custodians mention fiscal policy, but they went there in their post-meeting statement after keeping the cash rate steady. “Recent budget outcomes may also have an impact on demand,” the board said, adding the caveat “federal and state energy rebates will temporarily reduce headline inflation”.