Remember when Anthony Albanese stood up before the 2022 election and promised to cut your power bills by $275? Remember when he said Labor had a plan to ease cost of living pressures? How's that working out for you?
Since Labor took office in May 2022, Australians have been absolutely hammered. Inflation hit a 30-year high of 7.8% in December 2022. Grocery prices have surged by over 20%. Rents have skyrocketed across every capital city. And those power bills Albo promised to slash? The average household is paying hundreds of dollars more per year, not less.
The $275 Power Bill Promise — Gone, Forgotten, Buried
This was the centrepiece of Labor's 2022 energy policy. The Australian Energy Regulator confirmed the opposite happened — default market offer prices rose by up to 24% in mid-2023. When pressed on it, Albanese simply pretended he never made the promise. Classic spin.
The ABC dutifully moved on. The rest of us paid the bills.
Grocery Prices: Labor's Blind Spot
Two years of hand-wringing about supermarket duopolies. Two Senate inquiries. One referral to the ACCC. Zero meaningful action. Woolworths and Coles continue to post record profits while families cut back on basics. Labor's response? More reviews, more working groups, more words.
Meanwhile, a trolley of groceries that cost $200 in 2021 now costs closer to $260. That's not a statistic — that's every family in Australia feeling it every single week.
Interest Rates: Labor Inherited a Problem and Made It Worse
Yes, the RBA is independent. No, Labor can't directly set interest rates. But they can control government spending — and they didn't. Labor's budgets have continued to pump stimulus into an already overheated economy, keeping inflationary pressure elevated longer than necessary.
Thirteen consecutive rate rises. Hundreds of thousands of mortgage holders facing repayment shock. Young Australians locked out of the housing market entirely. And the Treasurer comes out every quarter to tell us it's global headwinds.
Wage Growth: The Promise That Required a Magnifying Glass
Real wages — that is, wages after inflation — went backwards for most of Labor's first term. The government cheered nominal wage rises while conveniently ignoring that prices were rising faster. Australians got a pay rise and could afford less. Brilliant.
So What Has Labor Actually Delivered?
More public servants. More consultants. A bigger federal payroll. Stage 3 tax cuts (which they promised not to change, then changed). A few energy rebates that barely scratched the surface. And a whole lot of press releases telling you things are improving.
If you're tired of paying the price for Labor's economic mismanagement and getting nothing but spin in return, we've got something for you. The Albo — Our 47% Shareholder Tee is exactly the kind of message the Treasurer doesn't want you wearing.
Because someone has to say it.