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Labor’s economic model is broken and households are paying the bill

The Australian Financial Review (AFR) •
November 04, 2026 • 01:30 AM
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The Albanese government needs a circuit breaker, but it can’t change course from its broken economic model because doing so would be an admission of past sins.

Labor’s economic model is broken and households are paying the bill

A common stereotype of many Liberal and National MPs is that they don’t believe in or don’t care about climate change. Climate change sceptics, shall we say.

Yet, after more than four years of the Albanese government, it is abundantly clear that most Labor ministers and MPs don’t believe in or care about sound economics. Many in the post-Paul Keating Labor are outright sceptics of conventional economics.

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