Can Anthony Albanese fix Inflation?
Labor Leader Anthony Albanese:
“The cost of living is increasing, but pay isn’t keeping up.”
“A Labor government will focus on lifting pay and profits and creating even more jobs by making our economy more productive.”
That sounds like great news:
- More Pay for the Employees.
- More Profits for the Businesses.
- More jobs for everyone.
But, doesn’t that extra pay and profits mean that businesses will have to increase prices?
So, a higher cost of living will follow, causing the need for increased benefits for those unable to work.
But that can be paid for by increasing taxes.
And the Inflation circle continues.
What is the cause of the recent increases in the cost of living?
Petrol prices have risen dramatically due to the Russian war with Ukraine.
Food costs have risen due to the recent floods, coupled with rising transport costs.
Neither government could do much about events such as these.