One year on from Labor’s Economic Reform talkfest

Australians are poorer under Labor because Labor’s agenda is all talk and no action. One year on from Jim Chalmers launching another talk-fest in Canberra, Australians living standards have gone backwards more than any other developed country. Australia’s annual productivity under Labor is now worse than it was during the Global Financial Crisis, the early 1990’s recession, even during the COVID-19 pandemic.

Jim Chalmers’s record on productivity is woeful. Despite lowering the bar for success for himself, he has delivered the largest fall in productivity on record. The only years of negative productivity growth in the last 20 years have been under Labor and Jim Chalmers.

Far from delivering on the promise of long term economic reform, Labor’s policies are preparing Australia for long term economic decline. Attributable to the Deputy Leader of the Opposition, Senator the Hon Jane Hume: “Before he became Treasurer, Jim Chalmers talked a big game about productivity. Today, he has presided over the worst collapse in productivity in decades.

“Jim Chalmers’s personal legacy for Australians on productivity is to deliver lower living standards, higher costs, and an economy going backwards.” Attributable to the Shadow Treasurer, the Hon Tim Wilson MP: "Australians are living Jim Chalmers' failures through high inflation, price rises, and record small business insolvencies because the Treasurer can't go cold turkey on his spending and debt addiction".

"In the last Budget Jim Chalmers' only solution for struggling small businesses was higher taxes and more regulation confirming he is out of his depth and drowning in his own portfolio and taking small business with him".