Federal election: Anthony Albanese stumbles at first campaign hurdle, unable to say what cash rate, unemployment rate are

Anthony Albanese has failed to answer two important yet simple questions on the first morning of the six-week election campaign | WATCH

Labor leader Anthony Albanese visits Launceston in Tasmania on his first stop of the federal election campaign. Picture: Toby Zerna

Opposition Leader Anthony Albanese has failed to answer two important yet simple questions on the first morning of the six-week election campaign.

Mr Albanese stumbled over key economic figures and was forced to call in his finance spokeswoman, Katy Gallagher, to answer what the unemployment rate is.

Campaigning in the ultra-marginal Tasmanian seat of Bass - held by Liberal MP Bridget Archer on the razor thin margin or 0.4 per cent - on Monday, Mr Albanese dodged questions about the RBA cash rate. It has been 0.1 per cent for almost 18 months.

Asked what the rate was, Mr Albanese struggled to answer.

“We can do the old question and over 50 different figures,” he said. “The truth is ... the Reserve Bank is ... that over the coming period, the Reserve Bank has said there will be multiple interest rate increases regardless of who is in government.”

Mr Albanese also could not nominate what the unemployment rate was. “The national unemployment rate at the moment is ... I think it’s 5.4. Sorry,” Mr Albanese said. “I’m not sure what it is.”

It comes months after the Prime Minister was criticised for not knowing the price of milk or cost of bread when giving a speech at the National Press Club.

Mr Albanese was joined in the regional Tasmanian city of Launceston by Senator Gallagher, who was called upon to answer the same questions and did so correctly.

“The Reserve Bank current rate is point one and the unemployment rate is at four per cent,” she said.

Labor leader Anthony Albanese with L-R Senator Helen Polley (red) Labor candidate for Bass, Ross Hart and Shadow Finance Minister Katy Gallagher. Picture: Toby Zerna

Scott Morrison was able to correctly name the nation’s cash rate and unemployment levels, as he pitched the Coalition’s economic credentials while campaigning in the Labor-held seat of Gilmore on the NSW South Coast.

“0.1 per cent is the cash rate, been there for some time,” Mr Morrison said.

“The unemployment rate I’m happy to say is 4 per cent, falling to a 50 year low. It came down from 5.7 per cent when we were first elected.

“More importantly, as we went into the pandemic, we were facing unemployment rates up around 15 per cent. Now it’s 4 per cent.

“That’s why our economy is coming back strongly. We put the policies in place to ensure that could occur. I know our economic plan will continue to work in the future because Australians and small businesses are working with - working right now.”

Mr Albanese also confirmed Jim Chalmers would be his Treasurer should Labor win government, but said he “expects” the rest of his team to stay the same.

When asked whether he would guarantee that opposition home affairs spokeswoman Kristina Keneally and opposition defence spokesman Brendan O’Connor would become ministers of their respective portfolios if Labor wins government, Mr Albanese only guaranteed one position.

“Jim Chalmers will be the Treasurer of Australia if I am elected,” he said. “I’ve said that multiple times... I expect that everyone will be in their current jobs, that is my starting point.

“Is it possible that someone says I don’t want to do the job or what have you, that happens from time to time. But it doesn’t happen over someone like Jim Chalmers being the Treasurer of Australia.”

Earlier, the Opposition Leader pinned stagnant wage growth on Mr Morrison, arguing that wages had been held back “by design”.

“We want to see real wages increase in people’s first term,” he said. “And we want to identify ways in which particular sectors can be improved.

“The Reserve Bank governor has warned on multiple occasions that wage constraint, which is according to senior members of the government, the former finance minister, is a key feature of the economic architectures.