While Scott Morrison and Josh Frydenberg continue to pretend nothing is wrong in the economy, a new report has warns wages will continue to stagnate on their watch.
Deloitte’s Business Outlook is predicting the entrenched “underperformance of wages” under the Liberals “isn’t going to be disappearing any time soon”.
The report cautions against the Government leaving the RBA to do all the heavy lifting on the economy, saying the central bank was “busily eating into its own rainy day fund” by cutting the cash rate to record lows.
The Liberals have no clue what they’re doing when it comes to managing the economy, and won’t even admit there’s a problem – no wonder consumer confidence took such a big hit last week.
The RBA has been forced to pick up the slack where it can, because the Government has vacated the field when it comes to economic growth.
This third-term Government needs to take responsibility for the floundering economy on its watch, which is defined by weak consumption, feeble growth and stagnant wages.