Paul Fletcher Bradfield, Liberal Party, Shadow Minister for Government Services and the Digital Economy
1:57 pm
It is now nearly six months since the Treasurer set out to dazzle us all with his essay in the Monthly. He wanted us all to know how clever he is—he quotes Greek philosophers; he reads weighty books like Jared Diamond's Upheaval; he name-checks cool lefty economists like Mariana Mazzucato! Most of all, the Treasurer wanted us to know that he had big plans. No rearranging the sock drawer for him. The Treasurer's to-do list includes: 'redefining and reforming our economy and institutions'; 'reimagining and redesigning markets'; 'renewing and restructuring' of 'the way our markets allocate and arrange capital'; and 'creating a new, sustainable finance architecture'.
Jim Chalmers Rankin, Australian Labor Party, Treasurer
Stay out of my sock drawer, you weirdo!
Paul Fletcher Bradfield, Liberal Party, Shadow Minister for Government Services and the Digital Economy
My personal favourite was his plan to 'build a better capitalism, uniquely Australian', and his promise that 2023 would be the year he did it. So how is the Treasurer going? Well, since the essay came out, the cash rate has increased four times and now stands at 4.1 per cent. Inflation now stands at 6.8 per cent, the highest in 30 years.
Honourable members interjecting—
Jim Chalmers Rankin, Australian Labor Party, Treasurer
Come on, back him in. He's been working on this for six months. Give him a charity chuckle or something!
Paul Fletcher Bradfield, Liberal Party, Shadow Minister for Government Services and the Digital Economy
According to Westpac, household sentiment is stuck at recessionary levels, and NAB's Monthly Business Survey finds business confidence is diving. We're nearly halfway through 2023. I don't think we're halfway to 'a better capitalism, uniquely Australian'. Stop writing pretentious essays, Treasurer. Get on with the key bits of your day job: get the cost of living down, get energy costs down, get interest rates down and get inflation down.