A ninth consecutive interest rate rise from the Reserve Bank shows the Albanese Government is not doing enough to put downward pressure on inflation.

Shadow Treasurer Angus Taylor said inflation is eating a hole in the budgets of hardworking Australian families and yet the Prime Minister wants to talk about everything except the cost of living – the number one issue facing Australians.

“The government’s priorities are not the priorities of the Australian people,” Mr Taylor said.

“We have a Prime Minister who’s hands-off when it comes to managing the economy and a Treasurer who has wasted his summer penning a 6,000-word ideological essay and talking about what picture should feature on the $5 note.

"The government should be working on a solution to the worst outbreak of inflation we’ve seen in three decades. 

“We’re seeing double-income families right across the country struggling to make ends meet and having to make really tough calls to keep their homes.

“They’re taking second jobs. They’re working overtime. They’re giving up their holidays.

“Australians deserve a government that matches this character. Sadly, we are seeing the opposite.

“This Labor government keeps getting the economic calls wrong.

“The reality is governments can provide relief from inflation by reining in spending but the Treasurer has thrown the goal of budget balance out the window.

"Hardworking Australians are paying more and more on their mortgages because this government can’t get its priorities right.”

ENDS.