This week, analysts at S&P Global warned both main parties that if savings were not discovered, Australia’s rating might be jeopardized, citing “post-war highs” in public spending.
In Australia’s fiercely contested election on May 3, party leaders have pledged significant expenditures, with voters citing the cost of living as a key concern.
Albanese “delivered responsible economic management” and expressed pride in the Labor Party’s economic performance in an interview with reporters on Tuesday morning.
Albanese has previously stated that the S&P report’s authors “must have been beside themselves.” “The Coalition left us with a deficit of A$78 billion ($5 billion; £3.7 billion),” he continued. We made a $2 billion surplus out of that.
