Economic woes to cast shadow as parliament returns

[Pelican Press 0]

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Economic woes to cast shadow as parliament returns

Weak economic growth and Labor’s inability to get inflation down into the target range will be at the forefront when federal parliament returns for the fortnight.

The latest figures paint an unfavourable picture for the Albanese government, with the economy growing by just 0.2 per cent in the June quarter, confirming the continuing hip pocket pain being felt by households across the country.

The coalition is expected to heap more pressure on Labor over its handling of the economy in light of forecasts from the Reserve Bank dashing hopes of an interest rate cut before Christmas.

Labor needs the central bank to deliver a rate cut ahead of the looming federal election, which must be held by May.

Addressing cost-of-living pressures ******** the priority for the government.

Treasurer Jim Chalmers tempered his language on Sunday in relation to the RBA, after previously saying high interest rates were “smashing the economy”.

He defended the Reserve Bank’s two to three per cent inflation target and said Labor’s “primary focus” was fighting inflation, which is running close to four per cent.

Measures for superannuation payments on top of government paid-parental leave for new mums and dads are expected to be debated in the lower house, while Labor’s signature manufacturing package is also expected to come before both houses.

Relief for university students and payments for those doing practical training as part of their course will also be on the cards in the House of Representatives.

The final report of the Royal Commission into Defence and Veteran ******** will be handed down on Monday, after more than three years of evidence.

****** farmers from across Australia will descend on Parliament House on Tuesday, over a number of key issues including the live sheep exports band and water buybacks in the Murray Darling Basin.

The National Farmers’ Federation said in a statement they wanted to send a ******* message to politicians, to not listen to “anti-farming activists”.

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