Australia’s new treasurer, Jim Chalmers, has not given a damn about addressing today’s GDP figures, saying “it doesn’t make sense to bite the bullet”.
“Consumption, investment in housing, investment in new businesses, exports and nominal GDP were weaker during the March quarter than our predecessors budgeted,” he said.
“These are examples of the mess the old government has left behind to clean us up.”
Australia’s GDP grew by 0.8% in the March quarter, exceeding market expectations, but well below the 3.4% growth recorded in the previous quarter.
“It doesn’t make sense to poke words about the kind of conditions we’ve inherited,” Chalmers said.
“We have inherited higher and rising inflation and interest rates, falling real wages and $ 1 trillion in debt, not close enough to prove it.”