Albo has been a catastrophe for Aussie living standards. His lies are outrageous.
The prime minister acknowledged the tough financial circumstances of the past three years, underpinned by high inflation and interest rates, but he indicated that the worst was over, the nation was at “the beginning of where we want to be”, and more assistance was on the way.
“We’ll have more policies for a second term announced in coming weeks and months because we understand that people want to know that they will be better off under us,” Mr Albanese said in an interview with AFR Weekend.
“If they vote Labor, they’ll be better off in three years time, and that’s important”
…The prime minister said that if the RBA ended up cutting rates on February 18, it would be “a confirmation that progress had been made”.
“We now have a clear economic narrative of inflation down, wages up, unemployment low, and it’s a story that’s positive, whilst acknowledging that there is more to do.”
Here’s what Albo did to you over three years. Far worse than any recession, the Albo period was a depression.
Delivered exclusively by his blundering.
Looking forward, there is no agenda to lift wages, only to destroy them via the Indian inundation of millions of cheap workers.
Watch as Albo plotted with fellow Raja’s in November how to end your border with India and crash wage growth.
It is already working a treat as wages swan dive despite low unemployment.
But is the alternative better?
Although borrowers suffering under huge mortgages would get some relief, Mr Dutton said the prices of everything else, such as insurance and energy, were still so high that he expected voters to remain hostile.
Insurance inflation has peaked and is falling away. As for energy, Dutton’s plan for energy single-handedly makes Albo’s claim Australians will be better off under Labor legitimate.
Dutton is going to stall the renewables rollout by adding nuclear uncertainty.
This will force failing coal power to stay open longer, only by dint of state government subsidies, for which you will be taxed.
Worse, he has committed to cutting the energy rebates just as LNG imports double the gas and electricity prices.
Based on Asian gas futures for 2026, this will nearly double local gas prices.
Gas sets the marginal cost of electricity, and that role will increase as renewables slow and aging coal power shutdowns increase.
Without rebates, your retail power bill will soar 65% in 2026/27, a worse shock than COVID and the Ukraine War combined.
Albo will persist with and grow the energy rebates, which means this blow will never happen for households under Labor, though it will mean higher taxes over time, especially since it will all happen as iron ore crashes.
In terms of interest rates, Dutton will get them lower faster by cutting fiscal spending, but the moment his energy crisis hits, the RBA will reverse course. Dutton’s energy shock adds 4% to the CPI overnight, then as much as double that as it spills into everything.
We might be able to say that Dutton will support wages and help rebalance housing by cutting immigration, but his commitment to doing so appears so wishy-washy that it can’t be trusted.
Of course, all of this may not happen. I find it hard to believe that the LNP wouldn’t restore the energy rebates to protect households from a huge energy shock while adding enormous subsidies to Gina Rinehart’s East Coast energy plays. Sounds like a win-win for them.
Which would mean, like Labor, the shock would be stretched over the longer term via higher taxes.
That would mean Australians are better off under Dutton to the extent that he cuts wasteful spending and immigration, lowering inflation and interest rates while supporting wages.
But, unless he changes direction on energy, Dutton has made himself a worse economic manager than the worst economic manager in a century.
