Blame shifting is not a productivity plan

Friday, 09 June 2023

Anthony Albanese’s excuses and blame shifting at today’s Australian-Sky News Economic Outlook conference are no substitute for a lack of a growth plan for the economy.

Asked on interest rates, the Prime Minister blamed the RBA Governor.

Asked on budget forecasts, the Prime Minister blamed the Treasury.

Asked on the Productivity Commission Review, the Prime Minister said nothing to see here.

Shadow Treasurer Angus Taylor said Australians deserve better than a Prime Minister who shrugs his shoulders in response to the economic challenges Australia faces.

“Whether it is inflation or productivity, the Prime Minister is asleep at the wheel,” Mr Taylor said.

“After a year in office, labour productivity has fallen by the highest level on record, yet asked about plans to fix it, the Prime Minister pointed to his government’s renaming of a public service agency.

“After a year in office, interest rates have risen 11 times, yet asked on interest rate forecasts, the Prime Minister said they’d been wrong before and could be wrong again.

“You can’t run an economy on wishful thinking.

“In the first year of the Albanese Government productivity growth has slumped to a historic low of -4.6%. This represents a loss of almost half of the growth achieved during the Coalition’s time in office.

“This is despite a once-in-a-century economic shock through the COVID pandemic.

“The government’s indifference to the productivity challenge should alarm all Australians because it shows indifference to the challenges Australians are facing.

“Dealing with the cost of living crisis must be priority one, two and three for this government but instead its blaming everyone except themselves and ignoring solutions.”