Anthony Albanese has snapped at camera operators documenting his Caribbean trip as he prepares to jet off again while struggling Aussies are hit with another interest-rate rise.
‘Stop, guys, stop,’ the Prime Minister said as he walked away from the travelling press pack following a media conference in Antigua and Barbuda on Friday.
The tense moment followed questions about whether social engagements during the Commonwealth Heads of Government Meeting had distracted Albanese from official business, amid scrutiny of his overseas travel schedule.
On Tuesday, the Reserve Bank of Australia lifted the cash rate by 25 basis points to 4.85 per cent.
The fifth increase this year took the cash rate to its highest level in 18 years.
The central bank pointed to stubborn inflation, rising global energy costs and ongoing capacity constraints in the economy as reasons for the increase.
Exclusive Canstar modelling for Daily Mail shows many borrowers have faced repayment increases well beyond the buffer lenders were required to test when issuing home loans.
The three percentage point serviceability buffer has been overtaken by the 4.75 percentage point increase in the cash rate since it began rising from its record low.
Albanese (pictured) looked angry while shooing away camera crews last week
A borrower who took out a $600,000 mortgage over 30 years five years ago would have initially faced monthly repayments of $2,399 on a rate of 2.59 per cent.
Following the latest rate rise, that same borrower is now expected to pay $4,056 a month on a rate of 7.34 per cent.
That represents an increase of $1,657 a month, or 69 per cent, compared with when the loan was first taken out.
Despite the criticism, Albanese has defended his international travel, arguing that his overseas engagements strengthen Australia’s economy and advance the nation’s interests.
His international schedule is set to become busier in the coming weeks.
After returning from the Caribbean, the Prime Minister is expected to travel to Turkey for COP31, the Philippines for the East Asia Summit, and China for the APEC leaders’ meeting.
His international commitments then continue with the G20 summit in Miami also on the agenda, where he is set to meet with US President Donald Trump.
It will be the first meeting between the pair since they briefly met on the sidelines of the United Nations General Assembly in New York in September.
Albanese is set to now travel to Turkey for COP31, as well as the Philippines, USA and China
Albanese (left) has defended his attendance at overseas conferences despite issues at home
The Coalition, meanwhile, has argued that the Prime Minister should be spending more time focused on challenges facing Australians at home.
‘In any normal circumstances, the overseas trip that the Prime Minister has taken would be okay,’ Opposition Leader Angus Taylor told News24 on Friday.
‘But in the current circumstances, he’s got an economy that’s not working for Australians and he’s not taking the actions necessary to fix it, and the reason is he’s in denial.’
Shadow minister Dan Tehan criticised Albanese’s expected attendance at COP31 after Australia hosted a Pacific pre-COP event reportedly costing about $34million, which the Coalition claimed attracted limited participation from other world leaders.
‘Why does Anthony Albanese need to go along and hold Chris Bowen’s hand? I mean, it’s going to be a talkfest,’ Tehan told News24 on Sunday.
‘Someone needs to point out to him there’s a cost of living crisis here in Australia. We’ve just had the 17th interest rate rise.’
Albanese, meanwhile, has defended his attendance at overseas conferences.
‘I’ve taken the opportunity to advance Australia’s national interests, which is why we engage with our interconnected world,’ he said on Tuesday at the CHOGM event,’ Albanese said.
‘My government shows up to forums like this because it is in Australia’s national interests. One in four of Australian jobs relies upon trade.’
