Matt Canavan warns of ‘stagflation’ amid ‘weak’ economic conditions
Nationals Senator Matt Canavan has warned against “stagflation rearing its ugly head” as he accused Treasurer Jim Chalmers of putting more fuel on the inflation fire.
“Last week we saw inflation running hot, now we learn that in fact, retail sales have been soft,” Mr Canavan told Sky News Australia host Andrew Bolt.
“And so, we are getting this terrible beast of both high inflation and weak economic conditions.
“There is no magic bullet here – the government should be lowering taxes, lowering red tape to help attract business investment and get the economy going in a way that lifts its productivity.
“The only way to encourage economic growth and stronger retail sales without fuelling inflation is to encourage businesses to become more productive.
Видео Matt Canavan warns of ‘stagflation’ amid ‘weak’ economic conditions канала Sky News Australia
“Last week we saw inflation running hot, now we learn that in fact, retail sales have been soft,” Mr Canavan told Sky News Australia host Andrew Bolt.
“And so, we are getting this terrible beast of both high inflation and weak economic conditions.
“There is no magic bullet here – the government should be lowering taxes, lowering red tape to help attract business investment and get the economy going in a way that lifts its productivity.
“The only way to encourage economic growth and stronger retail sales without fuelling inflation is to encourage businesses to become more productive.
Видео Matt Canavan warns of ‘stagflation’ amid ‘weak’ economic conditions канала Sky News Australia
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