JIM CHALMERS
SHADOW TREASURER
MEMBER FOR RANKIN


HIGHER SAVINGS DO NOT GUARANTEE JOBS OR STRONG, INCLUSIVE RECOVERY
 

One of the reasons household savings have been higher than usual is because many people have been reacting to a lot of uncertainty.
 
When, whether and how much Australians spend down these savings will be an important factor in the recovery.
 
We need to see more of this money circulating in small businesses and local economies doing it tough, but there are no guarantees.
 
Pointing to old announcements will also be cold comfort to the many workers and businesses that have faced increased stress over the holiday period.
 
The Treasurer has been sprung in the past making all kinds of announcements about government support in the economy which have proven to be either exaggerated or embarrassingly wrong.
 
He shouldn’t be patting himself on the back while more than two million Australians are either without a job or don’t have enough hours and wages are stagnant.
 
After racking up a trillion dollars of debt the Morrison Government should have more to show for it in terms of jobs and opportunities but instead they’ve wasted too much on rorts and advertising.
 
If only the Treasurer was as focused on creating jobs as he is obsessed with generating headlines and congratulating himself while some workers, small businesses and communities are still struggling.
 
His plans to cut wages, cut super and wind back consumer protections in the banking system could weaken the recovery and will leave too many Australians behind.
 
THURSDAY, 14 JANUARY 2021