{"id":22767,"date":"2023-09-08T21:27:13","date_gmt":"2023-09-08T21:27:13","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=22767"},"modified":"2023-09-08T21:27:13","modified_gmt":"2023-09-08T21:27:13","slug":"australians-are-poorer-under-labor","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2023\/09\/08\/australians-are-poorer-under-labor\/","title":{"rendered":"Australians are poorer under Labor"},"content":{"rendered":"\n<p>After more than a year of the Albanese Labor Government, the latest National Accounts show Australia is now in a per capita recession.<\/p>\n\n\n\n<p>This means Australians are poorer per person than they were six months ago with the economy only growing off the back of record population growth.<\/p>\n\n\n\n<p>Shadow Treasurer Angus Taylor said the latest National Accounts data sums up the pain Australian households are feeling.<\/p>\n\n\n\n<p>\u201cUnder Labor, living standards are going backwards, the economy is shuddering to a halt and Australians are feeling poorer under this poor performing government,\u201d Mr Taylor said.<\/p>\n\n\n\n<p>\u201cThe economy is only growing because the population is growing. If wasn\u2019t for record migration Australia would be in a technical recession.<\/p>\n\n\n\n<p>\u201cIf this is the Treasurer\u2019s economic strategy then we have huge problems ahead.<\/p>\n\n\n\n<p>\u201cCost of living pressures are bearing down on household budgets. Australians are needing to work more hours to make ends meet but they\u2019re working more hours for less.<\/p>\n\n\n\n<p>\u201cThey\u2019re being forced to spend significantly more for the critical items they need like groceries, fuel, insurance, energy and housing rather than the things they want.<\/p>\n\n\n\n<p>\u201cInflation is still far too high and families are struggling with this reality every single day.\u201d<\/p>\n\n\n\n<p>Senator\/Federal Member for [electorate] said instead of doing its bit to make life easier for struggling families, Labor is distracted.<\/p>\n\n\n\n<p>\u201cThe cost of living should be priority one, two and three for this government but that\u2019s far from what we\u2019re seeing,\u201d Mr\/Ms\/Senator [surname] said.<\/p>\n\n\n\n<p>\u201cInstead we have a Treasurer focused on reinventing capitalism, wasting money, raising taxes, reshaping the productivity commission to suit Labor\u2019s big Australia agenda and prioritising airlines to drive up the cost of airfares then take its competition policy seriously.<\/p>\n\n\n\n<p>\u201cThis government has proven it\u2019s a walking talking economic disaster.<\/p>\n\n\n\n<p>\u201cChallenges on the horizon are not an excuse for a lack of an economic growth agenda. The Albanese Labor Government has an excuse for everything but takes responsibility for nothing.<\/p>\n\n\n\n<p>\u201cThe government is distracted. It has the wrong priorities; it\u2019s making the wrong calls and Australians are paying the price.\u201d<\/p>\n\n\n\n<p><strong>What the June quarter National Accounts tell us:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Australia has entered a per capita recession meaning the economy is only growing because the population is growing.<\/li><li>Productivity has fallen for three consecutive quarters for the first time since 2005 and is experiencing its deepest three-quarter fall on record.<\/li><li>Hardworking Australians with a mortgage are paying&nbsp;<strong>double<\/strong>&nbsp;the amount of interest compared to a year ago.<\/li><li>Australians are paying more income tax \u2013 a whopping&nbsp;<strong>15% more&nbsp;<\/strong>than they were a year ago.<\/li><li>The household savings ratio has fallen to its lowest level since March 2008.<\/li><li>Discretionary spending has dropped for the third quarter in a row meaning families are spending less of their hard-earned money on the things they want because they are struggling just to pay for the things they need.<\/li><li>GDP grew just 0.4% with population growth the only thing propping up the economy.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>After more than a year of the Albanese Labor Government, the latest National Accounts show Australia is now in a per capita recession. This means Australians are poorer per person than they were six months ago with the economy only growing off the back of record population growth. Shadow Treasurer Angus Taylor said the latest &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2023\/09\/08\/australians-are-poorer-under-labor\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Australians are poorer under Labor&#8221;<\/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-22767","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\/22767","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=22767"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/22767\/revisions"}],"predecessor-version":[{"id":22768,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/22767\/revisions\/22768"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=22767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=22767"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=22767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}