Nick McKim (Tasmania, Australian Greens) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Gallagher. Minister, in just a minute or two, the RBA will announce a further increase in interest rates. Last week, the Treasurer said that these interest rate increases will result in higher unemployment and further cuts to real wages. Workers, renters and recent homebuyers are being smashed to try and bring down inflation, which is being driven by supply shocks and corporate profiteering. Is the government seriously suggesting that there is no alternative? In 2022, is there really no better way for government bodies to respond to the current bout of inflation—a way that would cause less pain for Australians?