18 Months of Labor

Australia's core inflation is now higher than almost every major advanced economy – the USA, Canada, Germany, Italy, France and Japan. (Source: Trading Economics, September 2023)

Labor’s economic and energy policies are making inflation worse.

Labor promised a $275 reduction in power bills. In just 15 months, the cost of electricity is up 18.2%, while gas is up 28%.

Labor is adding an additional $188 billion in spending over the next 5 years, further fuelling inflation.

Productivity is in free fall, having fallen by 6.6% in 15 months. However, Labor is putting demands of union bosses ahead of small businesses.

With 12 interest rate rises under Labor and the highest rent rises since 2009, Australians are already struggling to find affordable housing. Yet Labor is bringing a record 1.5 million more people to Australia over 5 years while cutting infrastructure.

Instead of focussing on a plan to tackle inflation and interest rates, Labor has been obsessed with its $450 million referendum.

Under Labor, there have been 12 interest rate rises.

Australians now pay an extra $24,000 a year on a typical $750,000 mortgage.

Labor is making Reserve Bank’s job even harder.

After their May Budget, respected economist Chris Richardson said: "I had thought that the Reserve Bank was done and dusted but this has notably raised the chance that they will do another swing of the baseball bat." (Source: The Australian, 10/5/2023)

Since then, there have been another two rate rises.

When Australia has needed a plan to tackle high inflation and interest rates, Labor has been obsessed with its $450 million referendum.

Throughout the process, Mr Albanese mis-stepped and overreached. Labor's Voice was legally risky, with no details. It divided our country, with the "No" Vote exceeding 60%.

In the words of veteran political commentator Laurie Oakes: "When you handle something as big as the Voice as badly as he handled it, people are naturally going to assume that you're not handling other things very well either... He's come out of this Voice referendum looking like an incompetent dill and he may be stuck with that." (Source: 2GB, 31/10/2023)

Labor promised – on 97 occasions – a $275 reduction in electricity prices.

In 15 months, the cost of electricity has increased by 18.2%.

Households on default market offer contracts will pay up to $594 more for their electricity in 2023-24. Small business owners will pay up to $1,310 more.

Labor’s plan for 82% renewables by 2030 will require thousands of kilometres of new transmission lines.

Former Snowy Hydro boss, Paul Broad, recently said this energy transition “will take 80 years, not eight…there are massive changes that need to occur and I’m deeply concerned about the rush, the notion that somehow this is all magic”. (Source: Radio 2GB, 4/5/2023)

Labor's interventions in the gas market – including setting price caps – have created uncertainty for investors and risks to supply, putting upward pressure on prices.

The Australian Energy Market Operator's latest report says southern states risk gas shortfalls and, by 2027, there won't be enough gas to cover the eastern market.

The tax paid by Australians will increase by more than $300 billion over the next five years, compared with the Coalition's Budget.

Labor has abandoned the Coalition's tax cap of 23.9%.

Labor axed the former Coalition's low-and-middle income tax offset. Around 10 million Australians earning under $126,000 will now be up to $1,500 worse off.

The National Accounts show Australians are paying 15% more income tax than one year ago.

In its recent Budget, Labor introduced a new tax on farmers and truckies. These will result in higher prices.

Labor has doubled the tax on super for people who work hard and save for their retirement.

Because their $3 million cap is not indexed, this will affect millions of workers in the future. This includes over 2 million Australians under 25 earning an average wage during their life.

Labor's changes to the "safeguard mechanism" means a new carbon tax at $75 per tonne – three times the rate of Julia Gillard's.

Labor is looking for an excuse to break its promise to keep stage 3 of the Coalition's legislated tax plan. This plan will see 95% pay a top marginal rate of no more than 30 cents in the dollar.

Labor is massively expanding the power of union bosses.

One of its first acts was to abolish the building and construction industry watchdog, the Australian Building and Construction Commission.

The ABCC successfully tackled lawlessness. It fined the militant CFMEU for 1,600 law breaches and helped reduce industrial disputes in construction by 75%.

Labor has massively expanded the power of unions by introducing industry-wide bargaining.

This enables multiple sectors will be able to engage in economy-wide strikes. By adding red tape to supply chains, Labor's changes are inflationary.

Now Labor wants to change the law to allow union delegates to show up unannounced at your worksite.

Labor’s newest 784 page workplace legislation will make it harder to engage staff.

It is designed to kill off casual work and casual loading, by making it impossibly complex for small businesses to hire casuals.

It will mean less pay for casual workers and contractors, more costs for small business and more power for union bosses.

The legislation has a complex and vague definition of what a casual is. Small businesses can be hit with significant penalties if they get it wrong.

Labor’s new workplace legislation also kills the power to be your own boss. It includes a radical overhaul of the definition of independent contractors.

This jeopardises the rights of 1 million Australians who choose to be their own boss – including tradies, builders, hairdressers and more.

Australian Chamber of Commerce and Industry CEO Andrew McKellar says: “If you’re in labour hire or want a casual job, prepare for unemployment. If you are a service provider and want to advertise online, prepare for unemployment…The only loophole this bad legislation is looking to close is that of plummeting union membership.” (Source: The Australian, 5/9/2023)

Master Builders Australia CEO Denita Wawn says it will take “a sledgehammer to tradies right across the country”. (Source: The Australian, 5/9/2023)

BHP has said the policy would cost it $1.3 billion a year and threaten “serious damage to every level of the Australian economy”. (Source: AFR, 22/5/2023)

Labor's requirement for a 24/7 nurse in every aged care home has caused some homes to close and others to struggle the stay viable. Labor has had to abandon that promise.

39 aged care homes have been forced to close since September 2022.

Labor is shifting blame for its inability to keep inflation and interest rates down, and cutting badly needed infrastructure.

After taking 200 days to complete a "90-day review", Labor has failed to release the full review, but announced that 50 projects designed to haul freight more effectively, reduce congestion and reduce travel times, will be cut.

These include the M7-M12 interchange in New South Wales, the Frankston to Baxter rail upgrade in Victoria, and the Mooloolah River interchange in Queensland.

More than 250 projects face uncertainty, including on major highways and freight routes such as the Bruce Highway projects in Queensland and Princes Highway projects in Victoria.

In the words of Labor Queensland Premier Anastacia Palaszczuk, these infrastructure cuts are "outrageous" and "dishonest".

Labor is refusing to make public the list of infrastructure projects that will be delayed.

During a housing shortage, Labor is bringing a record 1.5 million more people to Australia over five years. Meanwhile, Labor is also cutting infrastructure.

While Australia is living in the most precarious time since the Second World War, Labor hasn’t committed any new money to Defence in its Budget.

Since the release of the Defence Strategic Review, there has been $7.8 billion of project cuts and delays, a $1.5 billion cut to the Defence budget and the announcement of more and more reviews.

And Labor is cannibalising our Army by reducing our Infantry Fighting Vehicles by two-thirds and making cuts to the self-propelled howitzer program.

This leaves our troops and our new strike forces more vulnerable and lowers morale.

The Coalition increased the number of Medicare-subsidised psychological sessions from 10 to 20. Labor dropped it back to 10 sessions.

The Coalition has pledged to restore 20 sessions to provide critical support for Australians who are struggling.

After being caught flat footed by a High Court decision, the Government released over 80 hardcore criminals – including child sex offenders and murderers – into the community, without legislation to fix this.

The Government was belatedly dragged to introduce legislation, then strengthen it. This would not have happened without Coalition pressure.

In January, Labor's Immigration Minister ordered his Department to take a softer approach when considering whether to deport New Zealanders who have been sentenced to a year or more in prison.

The Coalition refused or cancelled 10,206 visas under the character provision of the Migration Act. This includes violent criminals, sex offenders and drug traffickers.

Numbers of cancellations have fallen significantly under Labor.