RaymondPierreL3#GregJericho ‘s take on the #MayBudget26
The RBA is responsible for any increase in unemplyment in the near term and inflation is well and truly in #tRump ‘s hand, dear god… “A false narrative from conservative media and politicians is that government spending is driving inflation. 6It is not. Just last week the governor of the Reserve Bank, Michele Bullock, told us that the three interest rate rises this year would not “do anything for inflation over the next six months”. That makes it clear that inflation at the moment is driven by international factors – ie, the conflict in the Middle East.”
Greg laments current policies: “The thing is, voters like government services. They consistently vote for them; they consistently hate privatisations. Maybe the government could think about that fact, rather than worry about what media organisations that hate government spending think.”
But he rightly lauds the “vital move to shift away from treating housing as something to speculate on and back to it being about having a place to live.” That is not a big surprise given the ‘press leaks’ but it has been a long time coming.
The budget in seven graphs: no big surprises but this may be one of the most ambitious moves to fix Australia’s finances
With some long-awaited sanity on housing and taxes, including CGT and negative gearing changes, it’s one of the most important for good – but will still leave some out in the cold