‘We are heading down the road to a recession’: Concerns over Australia's economic future

Sky News contributor Steve Price believes Australia is heading down the road towards a recession with inflation still high in the country.

“This seems to have all developed really quickly in the last month or so,” Mr Price told Sky News host Sharri Markson.

“You’re starting to hear a lot of evidence of people with six figures salaries … doing it really hard.

“We are, I think, heading down the road to a recession and it just feels like it now may be inevitable.”

[pookeyhutchison]

Old Jim has no idea and neither does the Dud PM.

[danabray]

Labor voters got what they asked for ... the rest of us have to go down with this sinking ship voters were warned

[jmcham]

One of, if not the main, contributor to a potention recession is energy prices. That one major item adversely effects everything that is produced and consumed.

[haroldmclean]

I'm Calling it early, Labor will be a 1 term Government and the Voice Will Fail 👍

[jf]

Wait until the 25 percent electricity price increase hits. That will kick inflation big time. The government promise of lower electricity prices looks a bit rubbery to me!!! A one term government methinks.

[retrothingz]

Ahhh....think we might have already arrived at our destination ....but this is, most definitely, just the beginning

[evanangeletos]

Carbon copy of the Keating era 17% interest rates.

[David_Camerwrongun]

No need to point it out they know, it's planned and they'll make a ton off of crashing it

[shyamchabra]

So what? We had it coming! Do you think decades of low rates would have yielded any other result? The romance with housing in this country knows no bounds! They are still slapping each other on the back after "winning" another house auction. It depends who you are. many Australians have never been more comfortably off!

[jeffotoole]

horror the children’s sports clubs cancelled. The insanity that we must endure.
Does anyone actually realize for the past 3 years borrowers got a huge discount on their mortgages? Do we not remember that part of this equation?

[rabidsminions]

There is never a good time for a wage rise, if the BCA had their way no one would have had a wage rise in 30 years.

[normalguy]

We need to have interest rates back to 15%

[davemclean]

Was that your goal Labor coz thats 0:46 what yout policies are doing

[peterburke]

We are in stagflation which is a death spiral for any government.

[whiskeygamer]

Australia Finished and beyond help. Lol

[chuckmaddison]

What i love is the politicians got a pay rise on their higher than the average pay. Then a $ 3000 hardship bonus to help with cost of living.

[jimvellios]

destroying consumer sentiment is the main culprit that will inluence the stakes in us moving towards recession.
and the measure you add to this will be the cumulative factor that will prolong this recession (if it comes to be)

[crowsfan]

Welcome to 2021. This was obvious two years ago.

[michaela]

With this latest increase, after our homeloan repayments we should have just enough money to feed our toddler, so I guess that means there's more for us to give. Keep squeezing and we'll let you know when we can't put food on the table anymore.

[easyz]

What's in common between the recession of the 90's and the recession Australia is facing today? You guessed it - Labor was in charge!