In its latest Board minutes, the Reserve Bank of Australia has confirmed what Australians know but the Government will not acknowledge: Australia’s economic growth is the lowest in a decade, wages are stagnant, and employment is fragile.

The Reserve Bank has highlighted that “Year-ended growth had slowed to 1.4 per cent, the lowest outcome in a decade” and that “employment growth was forecast to slow over the period ahead.”

Collapsing confidence and weak growth are the inevitable consequence of a Liberal Government which has a political strategy but not an economic policy.

Scott Morrison and Josh Frydenberg have recklessly left the Reserve Bank to do all the heavy lifting in the face of worsening home-grown economic challenges and increasing global risks.

Right when Australians need and expect a plan from the Morrison Government to get the economy going again all they get instead is finger-pointing, blame-shifting and wedge politics.

It is time Josh Frydenberg and Scott Morrison brought forward a budget update to fix their forecasts and properly outline an economic plan that supports the floundering economy and better safeguards Australians from global turbulence.

TUESDAY, 15 OCTOBER 2019