Consumers are still being blamed for inflation, and have to carry the load for it.
Just straight out bullsh*t from politicians of all parties who know nothing.
.
First, The government borrows much more that its capacity and incurs huge interest bills.
The only way they see to reduce their debt is to devalue the currency, and the only way to do that is Inflation.
In addition to that, it distorts the labour market to build whatever projects they see as vote winners, by paying egregious wages to not only drag people from the normal economy, but set off a competing wage demand cycle.
Then there's the banks.
Would not Govt or Reserve Bank enforcement of reduction of LVR's on home loans, even credit cards limits, slow down the construction industry without sacrificing existing borrowers.
Wouldn't actions like these slow down the money supply without inflation?
Or does the Reserve Bank not have to power to do anything except the same thing they have always done?
In which case what is the point of them?
Yes and possibly in Jan