Dear Friend,

Today, millions of Australians have been hit by another interest rate rise. 

This is the twelfth rate rise since Labor was elected. 

A family with a $750,000 mortgage is now paying an extra $24,000 per year. 

Interest rates are at their highest levels since 2011. 

Higher interest rates mean higher rents. Renters are experiencing the highest increases since 2009.  

Interest rates increase because inflation is too high. 

Australia’s inflation is higher than almost every major advanced economy. 

And Labor’s economic and energy policies are making inflation worse. 

Labor promised a $275 reduction in power bills. In just 15 months, the cost of electricity is up 18.2%, while gas is up 28%.

Productivity is in freefall, having fallen by 6.6% in 15 months. 

However, Labor is putting the demands of union bosses ahead of small businesses. 

Labor's added $188 billion to spending, further fuelling inflation. 

Australians are already struggling to find affordable housing. Yet Labor is bringing a record 1.5 million more people to Australia over five years while simultaneously cutting infrastructure projects across the country.

Labor needs a plan to tackle inflation and interest rates. 

Instead, it has been obsessed with its $450 million referendum. 

Australians deserve better. 

Regards,

Jane Hume
Shadow Minister for Finance