Sky News Australia’s Andrew Bolt tears into Treasurer Jim Chalmers’ ‘out of touch’ 6,000-word manifesto

Sky News Australia’s Andrew Bolt tears into Treasurer Jim Chalmers’ ‘out of touch’ 6,000-word manifesto

Veteran broadcaster Andrew Bolt has ripped into Treasurer Jim Chalmers’ 6,000-word manifesto, suggesting it is filled with “windy words” and lacks practical action.

With the title ‘Capitalism after the crisis’ Mr. Chalmers wrote in The Monthly about “reimagining and redesigning markets” to accommodate a more inclusive and resilient economy.

He outlined how a new “value-based capitalism” could see government and business work together to address issues such as clean energy and climate change, signaling increased market intervention.

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Bolt told viewers of his Sky News Australia program on Monday evening that Mr. Chalmers decided to write the article to show “what a smart guy” he is, despite the country suffering from a cost of living crisis.

“We have massive inflation. We have rising power prices. Shortages of workers. We are running out of electricity,” he said.

“Yet Jim Chalmers still decided, ‘why don’t I write a 6,000 word essay on how I’m now going to – and I quote – ‘build a better capitalism’, and run it monthly in the far-left for comrades to see what a smart guy I am’.”

Bolt also said that Labor should make it clear whether Mr. Chalmers’ manifesto is the government’s official policy before mocking the essay, suggesting the treasurer could have squeezed it into just ten words.

“I also want everyone to read this essay, but only to learn that what Chalmers thinks can’t be summed up in 6,000 words, but only 10: Chalmers wants to spend even more because Labor knows best,” Bolt quipped.

The business community reacted with hostility to increased government market intervention after Mr Chalmers’ piece was published.

Business NSW Chief Executive David Harding said the Federal Government must be “carefully balanced” on market intervention.

“On skills, we want the federal government to loosen the rules, not impose more rules,” he told Sky News Australia.

“I would say that in general we want the government to put the policy deserters on the right level and not impose more red tape and more bureaucracy on businesses.”

Nationals Senator Matt Canavan told Sky News Australia households had bigger issues about the cost of living that were not addressed in the essay.

“Jim Chalmers’ obsession here is an ideological war on capitalism. Nobody cares about Jim, they want to know what you’re going to do for them,” Mr Canavan said.

“I just think Jim and his newly elected Labor group seem so out of touch.

“They don’t seem to understand the pressure on Australian families and that’s why you can write 6,000 words as the nation’s treasurer and not mention Australian families once.”

The Australian Bureau of Statistics revealed last week that inflation rose to 7.8 per cent in the year to December, the highest since 1990.

The main price increase was domestic holiday travel and accommodation, up 13.3 per cent. Electricity rose by an increase of 8.6 percent and international travel and accommodation came in at 7.6 percent.

All eyes will now turn to the Reserve Bank, which is expected to raise the cash rate for a ninth consecutive time to combat inflation when it meets next week.

The Central Bank has so far targeted eight consecutive rate hikes to households after sitting at a historic low of 0.1 percent in April 2022.

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