RBA and Labor opt for class war instead of fixing inflation


The Reserve Bank's decision to raise interest rates for the 13th time with the acquiescence and approval of the Labor Government is a continuation of damaging class warfare, the Greens say.

“Today's interest rate rise is Labor’s interest rate rise," Greens Economic Justice Spokesperson Senator Nick McKim said.

“Treasurer Jim Chalmers has the power to override the RBA but he’s too gutless to use it.”

“This is a terrible decision that will cause massive hardship across the country and push millions of Australians further into economic hardship.”

“It is beyond belief that the Reserve Bank would raise rates even as they acknowledge that inflation has peaked and is coming down.”

"The narrative that blames the average Australian's spending habits for inflation is not only incorrect - it's harmful.”

"It is corporations, especially banks and supermarkets, who are intensifying the cost of living crisis by increasing prices far beyond justifiable levels.”

“Average Australians didn’t cause this inflation crisis, and punishing them for it will not solve it.”

“Inflation figures are being driven by things like soaring fuel costs and skyrocketing rents. This isn’t about excessive spending, and it never has been.”

“Raising interest rates won’t bring petrol prices down, and it may even drive rents up.”

“The government needs to stop pandering to corporate greed and implement a super profits tax now.”

“Proceeds from this tax must be directed to actual relief from the soaring cost of living, like putting dental and mental health into Medicare and making childcare free.”