Mallee residents and small businesses are being gaslit by an Albanese Government with grievances against everyone but themselves, Member for Mallee Dr Anne Webster says, as Treasurer Jim Chalmers spent the weekend attacking Peter Dutton and the Reserve Bank of Australia (‘RBA’). Labor’s poor public standing is demonstrated by the Prime Minister’s lowest Newspoll public approval rating on record, yet the Prime Minister claims Peter Dutton is a ‘reverse thrust on the economy’.

“Prime Minister Albanese has failed the ultimate leadership test of taking responsibility for outcomes that happen on your watch,” Dr Webster said, pointing to record insolvencies and 1 in 11 hospitality businesses in Victoria expecting to fail by the end of the year.  According to federal regulator ASIC there were over 11,000 insolvencies in the 2024 financial year, up 39 per cent on 2023 and up 124 per cent on 2022.

Treasurer Jim Chalmers claims the independent RBA is ‘smashing the economy’ with its interest rate hikes, even though the RBA has not raised the cash rate for 299 days.

“The RBA belled that cat that Labor government spending is driving inflation, little wonder Labor is hurling back stones of blame from their glasshouse of governance failure,” Dr Webster said.

The Small Business and Family Enterprise Ombudsman is releasing data today showing a 10 per cent annual increase on requests for help from distressed business owners unable to meet their financial commitments, while requests for help with insolvency are up 50 per cent.

“Labor has had three budgets and two years to get inflation and spiralling energy and other small business costs under control, instead they have spent more time fighting the Opposition than fighting inflation. Meanwhile, Labor’s potential post-election coalition partner, the Greens, have never seen something they won’t tax.

“Australia’s inflation is homegrown, too high and sticky. Core inflation remains stubbornly high at 3.8 per cent. Fruit and vegetable prices have seen their highest rise since December 2022. Since the election, prices have gone up 10 per cent. Under Labor, gas is up 33 per cent, electricity is up 14 per cent (even after short-term taxpayer-funded rebates), rents are up 16 per cent, food is up 12 per cent, health and education costs are up 11 per cent and financial & insurance costs are up 17 per cent.

“A Liberal-National Coalition government will cut red tape, secure our energy future, reform our tax system, restore sensible workplace laws and encourage enterprise and small business.”