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MYEFO: Do nothing government dreaming of ever higher house prices

Greens’ Treasury spokesperson, Senator Peter Whish-Wilson, responded today to the release of the Mid-Year Economic Forecast and Outlook (MYEFO).

“Today’s MYEFO has confirmed that Scott Morrison is not interested in governing.

“In the face of unheralded economic conditions and a climate emergency, the government is running idle.

“Interest rates are at record lows. Wages, productivity and spending are all in a slump. The enormity of the climate crisis is dawning on the nation.

“So what does the government offer up? A hope that house prices will return to their record highs.

“Property speculation, not productive investment: that’s the mantra of the Property Council PM.

“The bringing forward of $4.2 billion in infrastructure spending is scraps off the edge of the table. Non-defence capital spending is still in decline over the forwards estimates. And the government is still paying down debt when what we actually need is government to invest in job creating infrastructure.

“This government wants households to take on more debt while it takes on less debt.

“This economic pigheadedness is distorting the whole economy, making housing less affordable, and leaving us more exposed to the climate emergency.

“The Greens have put together 5-point stimulus plan to kick-start the economy and to act on the existential crisis that is climate change.

The Greens Stimulus Package would:

  1. Accelerate and expand the pipeline of green infrastructure investment in electricity generation, transmission and storage, energy efficient public housing and public transport.
  2. Create thousands of jobs to protect and restore Australia’s flora, fauna, land and sea.
  3. Remove the Commonwealth public sector wage cap and commit to lifting wages by 4% per annum.
  4. Immediately increase Newstart and Youth Allowance payments by at least $75 a week.
  5. Unleash private sector wage growth by legislating to reverse the cuts to penalty rates and peg the minimum wage to 60% of the median full-time wage.


Media Contacts:
WHISH-WILSON - Fraser Brindley, 0417 557 477

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