The past week or so has seen Prime Minister Anthony Albanese bald-faced lie or mislead Australians on the state of the economy and Labor’s performance.
I have captured these lies in the below YouTube video:
The first lie relates to energy.
Albo keeps telling us that Labor has delivered cheaper energy prices.
Yet, Australians on the East Coast have been left paying some of the highest gas prices in the world, roughly four times what Americans pay (who are the world’s biggest LNG exporter).
As a result of its failures on gas, NEM electricity prices have more than doubled under Albo’s watch, from around $75 MWH pre-Albo to nearly $200 MWH:
Under Albo’s Labor, gas and electricity prices have soared, leaving Australians paying some of the highest energy prices in the world. This has added to inflation, cost-of-living pressures, and sent more manufacturers broke.
In the next Tweet, Albo misled Australians on three counts.
Albo claimed that Labor has delivered “more jobs, higher wages and lower taxes”.
“We’re working hard to help Australians get ahead”, he said.
While it is technically true that Labor has created more jobs, it is highly misleading and largely irrelevant.
There are two reasons why jobs growth has been strong.
First, Labor has delivered the strongest surge in net overseas migration in the nation’s history, with nearly one million net migrants arriving in Australia over the past two years.
This immigration explosion has roughly doubled the growth in the working age population:
Second, most of this job growth has been government-related, driven by the NDIS. “Market” (private) sector jobs growth has collapsed.
In short, Labor has effectively created jobs for the record volume of migrants that it has imported.
Meanwhile, the unemployment rate has risen under the Albanese government, from 3.5% to 4.0% in trend terms:
Source: ABS
The number of unemployed has also risen under the Albanese government.
Meanwhile, while nominal wage growth has increased under Labor, once you adjust for inflation, real wage growth has collapsed:
Australia’s decline in real per capita household disposable income has also been world-leading:
Finally, bracket creep and the expiry of the Lower-Middle Income Tax Offset has seen taxes rise mercilessly under the Albanese government, even accounting for the Stage 3 tax cuts, which were legislated under the former government:
All politicians lie. But Albo has been caught out on four counts:
- Bald-faced lying on energy costs
- Misleading on jobs
- Misleading on wages
- Misleading on taxes
We have replaced “Scotty from Marketing” with “Albo from Marketing”. Or, as one commentor coined, “Albo from Accounting”, given the way he creatively jukes the stats.
