Elections in the United States are very different to elections in Australia. To start with our political systems are completely different and the way a Presidential campaign is run would be almost unrecognisable to many Australians.
When you consider non-compulsory voting and the sheer number of voters in the US it is almost impossible to equate our two systems. But what did strike me about the stunning and comprehensive victory of President Donald Trump on 5 November were some of the key concerns of American voters and how they align with the key concerns of Australian voters.
Unsurprisingly concerns of voters across many western democracies are very similar. I am talking about cost of living, inflation, the economy, immigration and energy policy.
What I think all Australians, whether they’re an employee, employer, or a small business owner should ask themselves everyday between now and the next Federal election is: “Am I better off today than I was two and a half years ago when the Albanese Labor Government took office?”
As I travel around Australia the answer that is given to me when I pose this question is overwhelmingly no. And this answer is backed in by data.
Surveys by Australian Chamber of Commerce and Industry and Westpac show that business confidence is at its lowest level since the Global Financial Crisis. The cost of living has soared. Australian households have endured the largest fall in living standards of any OECD economy over the past year. And Australians know why they are not better off today. It is because of the impact of the policies of the Albanese Government.
They have been irresponsible economic managers.
Reckless spending, compounded by ideologically driven policies are harming our productivity, our industries, and ultimately, Australians.
Interest rates have already gone down in the US, interest rates have gone down in Canada, in the UK and in New Zealand but they are still high here. Homegrown inflation is now running at almost seven times imported inflation.
And the Independent Reserve Bank Governor has made it clear that interest rates are staying higher for longer due to Labor’s reckless spending. Under Labor interest rates have gone from 0.35% to 4.35% with the Reserve Bank again refusing to rule out further increases.
Mortgage holders have copped an average hike in repayments of around $30,000 a year.
The Prime Minister said life would be “cheaper” under a Labor government. The data shows that it is not. Food is up 11.7%, education is up 11.5%, housing is up 12.9%, rents are up 16.4%, insurance is up 18% and gas is up 33.9%.
And then we have the impact of Labor policies on businesses. The latest ASIC data shows the Albanese Government has delivered the worst quarter of business insolvencies on record – 3,633 in the September quarter. That's led to the highest number of business insolvencies in a financial year – 11,053 in 2023-24. There have been over 23,645 business insolvencies since the Albanese Government took office.
These are bleak figures and as you know they are not just statistics. Each one of those numbers is a dream that has been shattered, a family under strain and an opportunity that we have lost perhaps forever.
And then we have the impact of Labor’s ideological industrial relations agenda, which is of major concern to businesses, large and small across the country. Labor have spent their time in Government delivering every whim of their paymasters – the union movement.
Mr Albanese’s first order of business when elected was to give John Setka and the CFMEU effective control of the construction sector in Australia when he abolished the ABCC. The catastrophic impact this is having on building sites across Australia should not be underestimated.
Since its election in May 2022, the Albanese Government has moved to undermine Australia’s industrial relations system, by passing laws which encourage conflict in the workplace, create uncertainty for businesses when hiring employees and gives extraordinary new powers to the Fair Work Commission to dictate employment arrangements in individual workplaces. These changes are not designed to increase productivity or flexibility in the workplace and as I have outlined already are having the opposite effect.
The Coalition on the other hand fundamentally believes in an industrial relations system that allows agreement between employers and employees. A genuinely fair workplace relations system should be pro-employment, small-business friendly, enable employers to prosper so that they can create more jobs and pay higher sustainable wages and of course flexible enough to respond to the needs of both employers and workers.
The Coalition will get Australia back on track by delivering a back to basic economic agenda that fights inflation and boosts productivity. This will include cutting red tape; securing our energy future; reforming our tax system; restoring sensible workplace laws; encouraging enterprise and small business and supporting a strong financial sector. We will be absolutely focused on restoring Australians’ way of life.