Scott Morrison should listen to what Reserve Bank governor Philip Lowe says, rather than trying to suggest he said something else entirely
More than perhaps anyone, the words spoken or attributed to the governor of the Reserve Bank are analysed in minute detail. When Philip Lowe speaks, people listen closely, because his words move markets and because they know, unlike politicians, he cannot afford to be glib or inaccurate. So his words this week agreeing that inequality has worsened should be listened to by the government – because right now they are being left behind by Labor and looking very much out of touch with the experience of most workers.
After a speech Lowe gave this week on the labour market, the questions from journalists quickly turned to inequality and wage growth.Asked if he thought “inequality is rising of getting better in Australia?” he responded, “Well it’s risen. It rose quite a lot in the 80s and 90s, and its risen a little bit just recently.”