Greens Treasury spokesperson, Senator Nick McKim, has responded to today\u2019s decision by the RBA to increase interest rates.<\/p>\n\n\n\n
\u201cThe RBA is smashing workers, renters and recent homebuyers to try to bring down inflation that is being driven by supply shocks and corporate profiteering.<\/p>\n\n\n\n
\u201cWe are hearing plenty from the government and the RBA about supply pressures.<\/p>\n\n\n\n
\u201cWhat we aren\u2019t hearing from the government or the RBA is about the role of corporate profiteering.<\/p>\n\n\n\n
\u201cProfit\u2019s share of national income was already at a record high and workers’ share of national income was already at a record low.<\/p>\n\n\n\n
\u201cNow big companies are using the cover of inflation to gouge prices and further drive up inflation.<\/p>\n\n\n\n
\u201cThis is why raising interest rates is the wrong medicine.<\/p>\n\n\n\n
\u201cTo tackle the cost of living crisis, we need government action to make big corporations pay their fair share of tax. <\/p>\n\n\n\n
\u201cWe need corporate super profits taxes to help rein in corporate profiteering and to help fund cost of living relief, such as by putting dental and mental into Medicare, building 1 million new affordable homes, and providing free childcare.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Greens Treasury spokesperson, Senator Nick McKim, has responded to today\u2019s decision by the RBA to increase interest rates. \u201cThe RBA is smashing workers, renters and recent homebuyers to try to bring down inflation that is being driven by supply shocks and corporate profiteering. \u201cWe are hearing plenty from the government and the RBA about supply … Continue reading “RBA is prescribing the wrong medicine”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-17600","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=17600"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17600\/revisions"}],"predecessor-version":[{"id":17601,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17600\/revisions\/17601"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=17600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=17600"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=17600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}