Press Release

We are now entering a perilous time for our nation. In an aggressive attempt to buy votes in the upcoming election, politicians will promise to spend vast amounts of borrowed money. This vote-buying competition has the potential to leave a nasty legacy.

These huge interest payments will create even more debt. The promised spending on projects we cannot afford and probably do not need will be inflationary.

With a Federal government debt of nearly 1 trillion dollars, deficits projected for the next 10 years, falling productivity, record business failures and the only employment growth in the unproductive government sector, we have a massive problem.

Promises to spend borrowed money is economic vandalism.  Our Federal Treasurer doesn’t seem to understand the mess he has led us into and should have an adult conversation with the electorate. 

He might start by owning up to being the cause of the inflation that the Reserve Bank of Australia is desperately trying to contain by punishing interest rates.

Using Federal funds to subsidise the cost of living and announcing a subsequent fall in inflation fails every test. It is insulting to everyone.

We need no more of the ebullient Mr Albanese and his Treasurer throwing money around. We need a government that listens to the real wealth generators and is prepared to implement solid policies encouraging them to invest and grow.

(ends)... Issued by PGA of WA  

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