Greens\u2019 Economic Justice spokesperson Senator Nick McKim has responded to the RBA\u2019s decision to keep rates on hold today.<\/p>\n\n\n\n
\u201cThe RBA\u2019s decision to keep rates on hold is welcome, but recent history shows there remains a risk that they will go up again soon.\u201d<\/p>\n\n\n\n
\u201cLabor needs to act to make sure the RBA does not raise rates again in the near term.\u201d<\/p>\n\n\n\n
\u201cUnnecessary rate rises have already inflicted immense pain on those who can least afford it because Labor has failed to act.\u201d<\/p>\n\n\n\n
\u201cMortgage and renters have been smashed by record rate rises and will remain nervous that there are more to come.\u201d<\/p>\n\n\n\n
\u201cAnd the risk of recession due to previous rate rises remains real.\u201d<\/p>\n\n\n\n
\u201cReal wages continue to go backwards and the prospect of a wage-price spiral remains a fantasy.<\/p>\n\n\n\n
\u201cAnd it\u2019s the lowest paid and least secure workers who are set to be among the 140,000 who will lose their jobs as interest rate rises start to bite.\u201d<\/p>\n\n\n\n
\u201cMeanwhile, corporate CEOs are getting a 15% pay increase for increasing prices which is actually fuelling inflation.<\/p>\n\n\n\n
\u201cBut Labor is failing to use the fiscal and regulatory levers it has to make people\u2019s lives better.\u201d<\/p>\n\n\n\n
\u201cAnthony Albanese and Jim Chalmers were elected to ensure no one was left behind.\u201d<\/p>\n\n\n\n
\u201cTheir failure to either rein in the RBA or start doing any of the heavy lifting makes them complicit.\u201d<\/p>\n\n\n\n
\u201cIf Australia is smashed into a recession, it will be Labor\u2019s recession.\u201d<\/p>\n\n\n\n
\u201cTheir passive acceptance of the neoliberal ideology that is driving the RBA is a betrayal of their roots.\u201d<\/p>\n\n\n\n
\u201cA real Labor government would be taxing corporate super profits and the super wealthy, bringing in price caps on things like rents and electricity, and making childcare and dental health free to help reduce the cost of living for those struggling to get by.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Greens\u2019 Economic Justice spokesperson Senator Nick McKim has responded to the RBA\u2019s decision to keep rates on hold today. \u201cThe RBA\u2019s decision to keep rates on hold is welcome, but recent history shows there remains a risk that they will go up again soon.\u201d \u201cLabor needs to act to make sure the RBA does not … Continue reading “LABOR NEEDS TO ENSURE THE RBA STAYS PAUSED ON INTEREST RATES”<\/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":[1],"tags":[],"class_list":["post-21664","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21664","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=21664"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21664\/revisions"}],"predecessor-version":[{"id":21665,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21664\/revisions\/21665"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=21664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=21664"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=21664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}