While the Coalition welcomes the Albanese Labor government’s concessions that financial advice reforms need to extend beyond superannuation, these reforms are meaningless if Labor unwinds years of hard-won protections for consumers within super.
Today’s National Accounts figures confirm that Australia is in a GDP per capita recession, and they highlight the grim Christmas that so many households will face.
The numbers today tell us that middle Australia is being absolutely crushed.
The Reserve Bank’s decision to hold interest rates at 4.35% is cold comfort for hardworking Australians with a mortgage.
With the Reserve Bank expecting inflation to remain a challenge until late 2025, Australian families are facing several more months of higher mortgage repayments.
The independent Reserve Bank Governor last night confirmed that Australia’s inflation is being driven by domestic factors, is widespread and will be higher for longer. The Prime Minister and the Treasurer are now at direct odds with the RBA Governor with their view of inflation.
The same day the ABS has confirmed that Australian household’s real incomes are going backwards, Labor has cut a deal with the Greens to pass contentious changes to the tax treatment of franking credits through the Senate.
The Coalition are today calling for the government to support Coalition amendments to Treasury legislation that will extend the Instant Asset Write Off to 26,500 medium businesses and extend the value of assets eligible to $30,000. <
