Family First has renewed its call for the Albanese Government to get spending under control as interest rates hit an 18-year high of 4.85pc today.
As The Australian reports “government spending had increased budget deficits by more than $100 billion since being elected in 2022”.
“The Prime Minister can’t blame the Iran war for the fact that mums and dads trying to pay off their home and raise a family are paying an extra $6600 per year in mortgage repayments thanks to the five rate hikes this year alone,” National Director and NSW Legislative Council candidate Lyle Shelton said.
“Everything Labor is doing from the expensive and economy-wrecking energy transition to hiring an extra 40,000 public servants is fuelling the inflation fire.
“You can’t fight inflation when your government spending is so high that you have baked in a decade of debt and deficit.
“There will be no hope for Australian families and small businesses until a government is elected that will cut spending, cut red tape and unleash coal, gas and uranium for domestic use,” Mr Shelton said.
