Albanese hails growth-less economy

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Prime Minister Anthony Albanese declared that by the time the next election is called in 2028, Labor will be able to present a track record of Australia not having had a single quarter of negative economic growth under his government:

“My government is halfway through this term. When we go to the next election in 2028, we’ll be able to go speaking about the strengthening that we’ve done in Medicare, the fact that we have the lowest unemployment rate of any government on average over the last 50 years, the fact that, unlike most of the advanced economies, we haven’t had a single quarter of negative growth”, he said.

As we know, Australia has experienced a record immigration boom under Labor:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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