The sad news from Labor\u2019s weak and poorly-received Budget is that economists have all broadly predicted that inflation will only get worse because of federal government policies.<\/p>\n\n\n\n
The primary problem with the Budget is that it hands out subsidies to cover to the cost of rising household and business costs \u2013 subsides needed because government policy is increasing the price of everything.<\/p>\n\n\n\n
Economist Chris Richardson said: \u201cYou can\u2019t subsidise your way to low inflation\u201d. <\/p>\n\n\n\n
As Senator Malcolm Roberts said on Sky News\u2019 panel during budget night: \u201cSubsidies add to inflation because sellers know the subsidies exists and just raise their prices to eat that subsidy up.\u201d <\/p>\n\n\n\n
The Reserve Bank has stated that rent subsidies add a serious component to the rate of housing inflation. <\/p>\n\n\n\n
At every turn, every Labor government policy setting is adding to the cost of living, the cost of housing and the cost of doing business. This Budget just kicks inflation down the road for a few months. <\/p>\n\n\n\n
As one analogy goes, an attempt to spend your way out of a recession is like standing in a bucket and trying to lift yourself up. Subsidies is one way the government is trying to mask the fact Australia is in a \u2018per capita\u2019 recession. <\/p>\n\n\n\n
Like everything that Labor touches, people\u2019s lives are suffering, and Labor only makes things worse.<\/p>\n","protected":false},"excerpt":{"rendered":"
The sad news from Labor\u2019s weak and poorly-received Budget is that economists have all broadly predicted that inflation will only get worse because of federal government policies. The primary problem with the Budget is that it hands out subsidies to cover to the cost of rising household and business costs \u2013 subsides needed because government … Continue reading “\ufffcOne Nation: Labor\u2019s dud budget jacks up 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-26656","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\/26656","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=26656"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26656\/revisions"}],"predecessor-version":[{"id":26657,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26656\/revisions\/26657"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=26656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=26656"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=26656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}