The Treasurer’s five-point plan to avoid recession is just the latest piece of spin from a government with no solutions to Australia’s economic challenges.

Australia is already in a GDP per capita, productivity, and consumer confidence recession after two years of Labor’s failed economic management.

For struggling Australian families and small businesses, there is nothing ‘soft’ about the Treasurer’s  ‘carefully calibrated’ plan to let interest rates and inflation run for longer.

In reality, Labor is presiding over a five-step plan to squeeze Australian households:

1. Taking $60 billion from family budgets to bolster its own through deliberate bracket creep;
2. Fuelling higher rates and higher inflation by adding $315 billion of spending;
3. Making the structural deficit worse by increasing spending by $4 for every $1 raised in the latest budget;
4. Losing control of migration and energy policy, making it harder to afford a house and harder to keep the lights on;
5. Smashing small businesses with more red tape, more taxes, and bad workplace laws.

Because of the Albanese Labor Government’s bad policies, Australians are facing higher prices, higher taxes and higher mortgage repayments for longer.

Hardworking Australians are paying a very high price for a Labor government that can’t manage money.

Shadow Treasurer Angus Taylor said Australia is facing a deadly combination of high inflation and household recession.

“Nothing can hide the fact that Jim Chalmers and Anthony Albanese have smashed our economy.

“As I have said for a while, and as independent economist Steven Hamilton today writes, Jim Chalmers is a doctor of spin, not of economics.

“The Treasurer likes to create the illusion that he understands what the economy needs. But his actions prove otherwise.

“Economist after economist has been clear, more spending will lead to higher inflation.

“Labor has added $315 billion in spending since the last election – that’s more than $30,000 for every Australian household. Most Australian families don’t feel like they’re getting value for money on that extra spending.

“The RBA has its foot firmly on the brake, the Albanese Labor Government continues to slam the accelerator.

“Australian households are struggling under the weight of Labor’s economic mismanagement. Sadly, this government is completely out of touch with reality.”

ENDS.