You could point the finger at the economy, but the real villain is inflation

You could point the finger at the economy, but the real villain is inflation
Inflation savages profits and siphons money out of households' pockets. (Image: Getty)
Cameron Bagrie
The crown financial statement for the 11 months ended May showed that core crown revenue undershot expectations by $2.3 billion. The real number is a loss of around $6b in revenue in the first five months of the year, which is around 5% of total revenue.That miss heralds two key themes that I believe will dominate over the coming year – business cost-cutting, resulting in layoffs, and the need for fiscal policy to adjust.Both are where politics and economic reality collide, where the reality of fighting inflation is laid bare and the...

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