Australian PM Anthony Albanese has been cautioned that the nation is hurtling towards an economic and financial catastrophe of unprecedented proportions.

 
Comparing the looming crisis to historical events, the gravity of the situation cannot be overstated.

Albanese has emphasised that the nation faces “economic and financial trauma” on a scale not seen since the Great Depression.

He pointed to mounting debt levels, stagnant wage growth, and skyrocketing living costs as key factors contributing to this dire predicament.

The Covid-19 pandemic has only exacerbated these issues, pushing the Australian economy to the brink.

Matt Grudnoff from the Australia Institute says the government is now turning its attention to addressing the cost of living, after the failed Voice referendum over the weekend. #featured