The Albanese government's active inflation agenda continues to put the brakes on the Australian economy, as they stoke inflation, tax inflation and spend inflation in a vicious cycle that is sending Australians backwards.
The latest National Accounts for the June 2026 quarter show that income tax paid is up 39% since Labor came to power, 7.3% per person once adjusted for inflation, and the average income tax rate on income after other outgoings has climbed from 16.2% to 17.7%, compared to 15.2% on average under the Coalition.
GDP per person remained flat in the quarter, following a fall last quarter, as Australians remain worse off than when Labor came to office.
Australians are having to pull in their belts with real disposable income per person down 3.3% since the change of government.
The public sector has outgrown the private economy since the change of government, with public final demand up 12.4% and private final demand up only 10.9%.
Australians are getting less out of their government with productivity in the non-market sector down a shocking 8.2% since Labor came to power.
In this cost of living crisis, the economy has stalled. Australia's productivity performance under Labor is worse than it was during the Global Financial Crisis, the early 1990's recession, even during the COVID-19 pandemic. The only years of negative productivity growth in the last 30 years have been under Labor and Jim Chalmers.
Quotes attributable to the Deputy Leader of the Opposition:
"Today's national accounts confirm that Australians will continue to be poorer under Labor.
"Labor and Jim Chalmers have stalled our productivity just when Australians need it to restore their living standards.
"With another quarter of negative productivity, Australians will continue to pay the price through weaker wages, higher costs and lower living standards."
Quotes attributable to the Shadow Treasurer:
"Growth has been outstripped by the Albanese active inflation agenda because the government cannot live within its means leaving Australians paying higher interest rates and supermarket prices".
"Because they can't kick their spending addiction or live within their means, the Prime Minister and Treasurer are playing a game of interest rate and recession chicken with the Reserve Bank".
"While the Treasurer is fist bumping the air, small businesses are going to the wall, real wages are going backward with household budgets".
"The only message from the national accounts is the Albanese active inflation agenda is keeping pressure on interest rates, and sending Australians' wages and living standards backward".
"Only a change of government can deliver a government that lives within its means, and delivers real growth for all Australians".
