Finance Minister Katy Gallagher has defended the government's funding of the care economy amid criticism from the Coalition after recent employment figures dashed hopes of a rate rise.Finance Minister Katy Gallagher has defended Labor's role in the recent employment figures as the growth of government-funded roles, particularly in aged care, have dampened hopes of a rate cut anytime soon.
Markets pushed back against Thursday’s revelation, as the ASX’s RBA Rate Indicator lowered the chance of a rate cut at the bank’s next meeting by four points to 10 per cent. Ms Gallagher defended against Coalition claims that Labor was propping up the economy by increasing the size of bureaucracy. Picture: NewsWire / Martin Ollman
“That’s, I think, a very good outcome too so it’s not just what I think Michaelia Cash would like to demonise, as public servants, it’s a much broader scope of jobs being created and that’s a good thing too because we have a lot of shortages in the care economy sector.Clennell then pressed the Finance Minister on whether the care economy was propping up the economy, to which Ms Gallagher defended against the idea.