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Election Battle On Wages, Debt

by | Wed, May 18 2022

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Prime Minister Scott Morrison is blaming Australia’s cost of living crisis on inflation, which he says is outside his control.

But despite gathering momentum, wages are lagging well behind the inflation rate, according to the latest Australian Bureau of Statistics data.

The annual rate was 2.4%, less than half the rate of inflation at 5.1%.

Opposition Leader Anthony Albanese claims it’s the biggest cut to real wages in more than 20 years,

He underlined that good government helps wages to rise, not fall backwards .. and he’s promised to keep wages in line with inflation.

“Australian workers are paying for a decade of bad policy and economic failures,” he told the National Press Club.

Just three days before the election, Mr Albanese vowed an incoming Labor government would be fiscally responsible.

He says axing $750 million in government grants will go some way to repairing the budget.

The Labor leader acknowledged he would face significant financial challenges should he win, with an expected $1 trillion worth of debt.

“We will inherit the worst set of books of any incoming government since federation,” he said.