Politicians Blamed for Potential Interest Rate Hike
If families are slugged an interest rate rise next week, it will be the fault of state and federal politicians whose reckless spending and climate policies are fuelling inflation, according to Family First.
With the Liberals and Nationals distracted on themselves, families need parliamentarians who will fight to take the cost-of-living pressure off.
The cost-of-living crisis is a self-inflicted wound on families driven by policies which push the price of energy up and by government spending which is petrol on the dumpster fire of inflation.
Inflation surged this week to 3.7 per cent, making it almost certain the Reserve Bank Board will raise interest rates next week.
But families need not be suffering.
Sadly, net zero climate ideology is driving a massively expensive roll-out of intermittent energy generation which is undermining the nation's industrial capacity and driving electricity bills through the roof.
Australia has gone from having the amongst the cheapest electricity in the OECD to amongst the most expensive with another 24 percent expected to be added to bills this year.
Apart from expensive and unreliable electricity, nothing drives inflation more than state and federal governments spending beyond their means.
If elected at up-coming South Australian (Deepa Mathew), Victorian (Jane Foreman) and New South Wales (Lyle Shelton) elections, Family First parliamentarians will push for budgets to be balanced.
This may be painful but nowhere near as painful as continuing interest rate rises.
Australians must realise that politicians from both sides have sabotaged our cheap and reliable energy system while spending beyond their means.
There are no pain-free options, but nothing is more painful than having to control inflation with high interest rates.
It's time for politicians to be honest.
Spending borrowed money on "energy relief" to mitigate the electricity bill pain caused by politicians' botched "energy transition" only drives inflation and therefore high interest rates.
We are in a politician-induced cost-of-living crisis which both the Coalition and Labor created.
Family First would further ease cost of living by freeing up abundant coal and gas and by halting the roll-out of expensive windmills and solar factories which only produce intermittent electricity.
A long-term transition to nuclear energy would provide an emissions-free and reliable energy solution.
A day of economic reckoning is coming but politicians are spending our money as if there is no tomorrow.
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