With yesterdays interest rate cut, the first with more to come, the promised economic soft landing seems to be delivered. Inflation low, interest rates down, unemployment low. Yes, there has been some economic pain, with higher than expected inflation, which was fueled by the drunken sailor spending of the Coalition when in government, leaving the incoming Labor government with almost a trillion dollars of debt and 6.1% inflation. With relief packages, and prudent targeted spending, Labor has been able to deliver two surpluses in a row, the Coalition couldn't deliver one in almost 10 years in office. Albanese and the Labor government should be rightly proud of the economic soft landing they have been able to deliver the Australian people. What if the Coalition had continued in government, there would have been more division, more economic pain, with high inflation, high interest rates and high unemployment. Now the people can reward Labor with a second term in office.

Dear Paul,

I like the fact that we have a Prime Minister who shows up,
takes responsibility and works with people to fix problems.

Here's the latest Media Releases, Speeches, and other news:

http://alp.org.au/news/all-news/

the economic soft landing
Paul1405,
So, Labor inherited a big debt from the Coalition ? The Coalition didn't inherit a mess from Labor Lol !
A Labor crony Reserve bank reducing the interest rate just before an election is coincidental ? Yeah right !
The Coalition have always pulled the Country up after Labor Governments not the other way round. I recall the perpetual cries of Labor blaming the GFC for their last loss but no acknowledging COVID for the last Coalition's battle whilst every Leftie hanger-on still got paid !
I wonder how many more will be given jobs in the PS before the election in exchange of votes !

Paul1405

I’m not sure about “more to come”. Bullock said "The market is expecting quite a few more interest rate cuts in the middle of next year, about three more on top of this. Whether or not that eventuates is going to depend very much on the data. Our feeling at the moment is that that is far too confident."

The “soft landing” has delivered the sharpest fall in real wages since the great depression and the worst drop in real disposable income in the OECD. We also have record high average personal tax rates.

http://www.afr.com/policy/economy/how-australia-became-the-world-s-biggest-cost-of-living-loser-20241118-p5krgk#:~:text=On%20this%20measure%2C%20Australians%20have,cent%20higher%20across%20the%20OECD.

Hi Rhian,

I think that should read "THIS YEAR"; "the market is expecting quite a few more interest rate cuts in the middle of next year, about three more on top of this" As we know inflation was 6.1% when the Noalition left office. Real wages stagnated under the Noalition as part of their "economic policy". Scott Morrison presided over the largest debt in Australian history. His government not only doubled the (Turnballs) debt, ScumO and Friedbrain sent it to unprecedented levels!

Just for Indy; when Labor left office in 2013 the National Debt was a modest $161.3 billion, the Noaltion managed to stoke that up to a mega $812.1 billion. Mostly with handouts to the likes of Gerry Harvey! Labor can now claim inflation low, employment high, interest rates falling. Isn't Jim Charmers a wonderful Treasure, delivering surpluses, keeping Australians in jobs, and tackling Noalition inflation and debt at the same time, wonderful work, just wonderful!

Now what is the Noalition's economic policy, taxpayer funded long lunches for bosses! That's what. Disgusting! Not only was Gerry Harvey given million of taxpayer dollars by Morrison, Dutton now wants to give him Lobster Thermidor for lunch, all compliments of the poor suffering taxpayer, as he sits down to his self funded Vegemite Sandwich. Disgusting!

Paul1405,
So, what you're literally saying is that, had Labor been in power during COVID all would have been honkey dory ! Labor would have managed it all better than the Coalition & the rest of the World ?
Hypocritic stupid doesn't come anywhere near an appropriate term to describe your mentality !
Just do us a favour & save this country some money by taking a sickie & join some idiotic Green protest march.