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How to win a cost-of-living election
Jan 29, 2025
In this discussion, Jonathan Barrett, a Senior Business Reporter at Guardian Australia, dives into the political ramifications of rising inflation. He highlights how inflation drives voters to reject incumbent governments, with Mexico’s Morena party as a standout exception due to its focus on salary rises and price controls. Barrett critiques the Australian Labor party's strategies and examines successful global methods for combating cost-of-living crises, underscoring the urgency of effective housing policies amidst economic pressures.
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Quick takeaways
- Mexico's success in retaining power amidst inflation was driven by proactive social policies like wage increases and price controls on staples.
- Australia's upcoming elections will heavily revolve around cost of living concerns, necessitating more aggressive government actions to address rising expenses.
Deep dives
Australia's Inflation Trends and Political Implications
Australia's inflation rate has decreased to 2.4%, marking a significant improvement that the Treasurer Jim Chalmers sees as an encouraging sign for the economy. This drop in inflation is framed in the context of an upcoming election, raising questions about whether this will be sufficient to counteract the anti-incumbent sentiments seen globally. Historically, incumbent governments have faced severe repercussions during times of high inflation, leading to major political shifts in various countries. Upcoming elections will likely see a strong focus on cost of living as a pivotal issue that voters prioritize, overshadowing other concerns such as crime and healthcare.
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