Treasurer Jim Chalmers has spent more time this summer writing theoretical essays than delivering real solutions to the cost of living challenges Australians are facing. 

Shadow Treasurer Angus Taylor said with more than two in three fixed rate loans set to roll onto variable interest rates this year, Australians need to know they have a government that has their back. 

“As interest rates continue to rise, families with a mortgage are in for yet another tough year,” Mr Taylor said.

“Instead of writing manifestos about neoliberalism, the Treasurer’s number one priority should be the economic challenges we face here at home and developing a real plan to bring down inflation.

“Just this week, the Treasurer confirmed cost of living relief promised before Christmas won’t be delivered until next financial year. The Treasurer’s priority should be getting that relief delivered as originally promised.”

Mr Taylor said given the Treasurer’s criticism of the Washington Consensus, it is crucial the Prime Minister confirm whether this essay reflects a change of government policy and what principles from the Washington Consensus his Treasurer wants Australia to abandon:

• Reducing budget deficits
• Reforming the tax system
• Allowing independent interest rate decisions
• Having a competitive single exchange rate
• Reducing trade restrictions for our exporters
• Supporting foreign investment
• Providing secure property rights

“Before the election, Anthony Albanese promised to run an economically sensible government. It’s critical the Prime Minister confirm which of these principles his government will now abandon otherwise his promise of renewal, not revolution will just be another broken promise,” Mr Taylor said.

ENDS.