ABS figures released today show that further interest rate rises are unnecessary.
“The RBA should not continue to raise interest rates when inflation is slowing,” Greens economic justice spokesperson Senator Nick McKim said.
“The last nine rate hikes have already smashed renters and mortgage holders. Any further rises will just send even more people to the wall.”
“We also learned today that 2022 was the best year on record for corporate profits.”
“Corporate profiteering has driven inflation up and piled on the cost of living pain.”
“Meanwhile, the share going to workers was the lowest ever in 2022. Yet those who are struggling the most are expected to fix the problem by copping higher rents and mortgage payments.”
“The figures show a shameful reality: the rich are getting richer while workers are getting the smallest slice of the pie since records began more than six decades ago.”
“We don’t need more rate rises. Jim Chalmers needs to stop sitting on his hands while the RBA punishes households.
“He should freeze rents, introduce a corporate super profits tax, and start providing genuine cost of living relief like putting dental into Medicare, wiping student debt and raising the jobseeker rate.”