We can all remember Chalmers 1.0, when he and his mate Lord Charlton were too gutless to put any kind of gas tax on the warmongering gas cartel.
This decision, above all else, triggered years of inflation and real wage falls.
Now, we have Chalmers 2.0, again, as the treasurer’s economy rolls into a new real-wages dive, again driven by an energy shock and overspending.
“This sustained erosion of purchasing power points to persistent pressures on household incomes, even as the labour market has remained broadly solid,” the OECD said of Australia.
