Former Treasurer Peter Costello lashed the Albanese government’s financial management, claiming that the failure to control spending had put upward pressure on inflation and interest rates, worsened the cost of living crisis, and eroded the economy’s competitiveness and productivity.
“What’s happening in Australia is that tax per capita is rising and spending per capita is rising even faster”, Costello told The Australian.
“We are progressing to a higher-tax, higher-spend, higher-debt country and this is at the same time that we are becoming a less productive country”.
