Al-anwar Newspaper English news in Australia
Prime Minister Anthony Albanese has palmed off an economic question directed at him to Treasurer Jim Chalmers.
Opposition treasury spokesperson Angus Taylor posed the question to Mr Albanese about the number of interest rate rises that have occurred since the May Federal Election.
“Before the election the Prime Minister promised Australians cheaper mortgages,” Mr Taylor said during Question Time on Tuesday.
“Can the Prime Minister inform Australians how much the cash rate has increased since May 21?”
In response Mr Albanese said Mr Chalmers would answer the question, before adding the government would not be taking lectures from “the lightweight on the hill”.
Sky News Australia’s Political Editor Andrew Clennell said the move by the Prime Minister not to answer the question was reminiscent of the moment he was unable to correctly cite the national unemployment rate on the campaign trail, while also refusing to recall the cash rate at the time.
“Albanese wasn’t going near that, he doesn’t want to be trapped on another gotcha,” Mr Clennell said.
“He should have a cheat sheet in front of him.”
The Reserve Bank of Australia has lifted the interest rate for seven consecutive months, including once under the previous Coalition government.
On May 4, prior to the election later that month, the RBA lifted the rate by 25 basis points.
It currently sits at 2.85 per cent following the November decision.
In response, Mr Chalmers ridiculed Mr Taylor’s question before pointing out that rates began to rise “on their watch”.
“With questions that bad is it any wonder he hardly ever gets one,” Mr Chalmers said.
“Thank you to the shadow treasurer for a very rare and particularly bad question.
“Because as everybody else in this House knows, interest rates started going up on their watch.
“Interest rates started going up for a range of reasons from the extraordinary lows that they were at – 0.1 per cent.
“And they’re currently at 2.85 per cent as every member of this House knows, except perhaps the shadow treasurer.”
