Labor Accused of Gaslighting Australians Amid Economic Woes
Australia's political class is facing criticism for its handling of the country's economic woes. Labor MP Tony Burke was recently accused of gaslighting Australians by suggesting that the housing crisis is caused by people living in smaller households, rather than immigration.
Burke argued that the number of people per household has decreased from 2.9 to 2.5 since the Hawke years, resulting in a shortage of 450,000 homes. However, experts point out that net overseas migration has added around 1.5 million people to the population since Labor came to office.
The move has been seen as an attempt by Labor to shift responsibility away from itself and onto Australians. Treasurer Jim Chalmers also pointed fingers, blaming the war in the Middle East for inflation, but even the RBA Governor Michele Bullock pushed back against this claim, saying that excess demand was a major factor.
The criticism comes as the RBA raised the cash rate, making mortgage holders poorer and reducing spending. Australians are already pulling back their spending due to economic pressure, leading many to question the effectiveness of these measures.