‘Fiscal discipline is gone’: Labor has ‘let loose the purse strings’
Shadow Home Affairs Minister James Paterson has slammed the Albanese government for “letting loose the purse strings”.
Australia’s inflation rate rose from 3.6 per cent to 4 per cent in May.
Markets are now predicting a 67 per cent chance of a rate hike in August.
“He has let loose the purse strings,” Mr Paterson told Sky News Australia.
“Fiscal discipline has gone, and the upward pressure on interest rates of the reckless spending of the Albanese government is now being seen in this data.
“I think, unfortunately, there is a very real risk of an interest rate or maybe even two interest rate rises between now and the end of the year or early next year.”
‘Fiscal discipline is gone’: Labor has ‘let loose the purse strings’