Thank you very much, and thanks to all the panellists for being here.
My question will be for the professor.
You know, the Prime Minister has had a pretty rough ride. He has faced an incredibly bad economy, mostly because of bad decisions he made. However, when someone says the right thing, I think it's important we call it out.
I would like to get your comments, Professor. He recently said this:
One of the fundamental challenges around affordability is they would love to say, well, you know what, we just need more money. Can you send us more benefits or send us an extra thousand dollars a month? As soon as you do that, inflation goes up by exactly that amount.
Clearly, what he's saying there is that the more you spend, the more inflation you get, which undermines the exact policy objectives the governments are trying to achieve.
Would you agree with the Prime Minister here, or do you think he's all wet?