The Reserve Bank is to take control of Traffic Fines in an attempt to control the economy. Glenn Stevens, Governor of RBA said interest rates weren’t hitting hard enough, so he has asked for special powers to set the cost of parking fines and other traffic infringements. The price of fast food and X-Boxes will also be set by the Reserve Bank. Stevens hopes that these measures will hit home and force the Australian consumer to spend less on discretionary items, such as clothing and edible items.
Parking fines are on the increase in Australia, generating more income than some African countries. Malawi is now installing parking metres, hoping for a traffic fine led recovery.
So many traffic infringements are now issued in this country that the Treasury will be issuing an $87 note, so parking fines can be paid without asking for change. The note will feature a picture of Justice Einfeld on one side, and a dead American on the reverse. The “Marcus” will be issued in the next few months.
The RBA hopes that hitting people with even more traffic fines will control inflation, which has been steadily increasing. Low unemployment is also contributing, with people able to negotiate better wages. The government aims to solve this problem by training people in skills that are no longer needed, such as town planning and driving buses, thereby increasing the unemployment rate. “The economy is overheating” said new Prime Minister Kevin Rudd “and we’ll be using all the tricks in the labor bag to screw it up”.