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Treasurer says surging electricity costs will make inflation ‘hang around longer’
We brought you the grim news on the blog yesterday that the head of Alinta energy has predicated a 35% increase to retail electricity bills next year, as energy providers juggle phasing out fossil fuels alongside investment in renewables.
I think one of the reasons this inflation will hang around longer than we want it to is because there are expectations around these electricity price rises being more problematic for longer.
You’ve said the government would put the economy above politics, can you really say that’s what you doing if you leave the stage-three tax cuts in place as they are?
I can say that, and I think what people will see in the budget in two weeks’ time is some difficult decisions in difficult times.
Our job is to make sure that our budgets are perfectly calibrated to the economic conditions as we confront them.
Continue reading…Passengers and staff told to leave airport to be rescreened and flights delayed after a person entered the terminal without a security check. Follow the day’s news liveGet our free news app, morning email briefing and daily news podcastTreasurer says surging electricity costs will make inflation ‘hang around longer’We brought you the grim news on the blog yesterday that the head of Alinta energy has predicated a 35% increase to retail electricity bills next year, as energy providers juggle phasing out fossil fuels alongside investment in renewables.I think one of the reasons this inflation will hang around longer than we want it to is because there are expectations around these electricity price rises being more problematic for longer.You’ve said the government would put the economy above politics, can you really say that’s what you doing if you leave the stage-three tax cuts in place as they are?I can say that, and I think what people will see in the budget in two weeks’ time is some difficult decisions in difficult times.Our job is to make sure that our budgets are perfectly calibrated to the economic conditions as we confront them. Continue reading…