Labor hints at 'big' cost of living measures in upcoming federal budget
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Staying afloat amidst the rising tide of expenses can be daunting, especially for those grappling with the ever-increasing cost of living.
But there's a beacon of hope on the horizon with the Australian government's promise of a 'massive' package to ease the financial burden.
Education Minister Jason Clare recently hinted at a comprehensive package coming in May, which intends to put more money back into the pockets of Australians.
Mr Clare emphasised the gravity of this issue, stating, 'The big issue for all Aussies, whether they are in Dunkley or around the country, is the cost of living.'
'That’s what's on everybody’s mind. Whether they’re paying bills at the supermarket or paying down their mortgage.'
'The tax cuts will help with that, inflation going down will help with that, wages going up will help with that. But we’re very conscious that's the biggest issue Aussies face right now.'
'It’ll be a big part of the budget. That is the biggest issue in the country at the moment, it’s what all Australians are focused on, and it’s what we’re focused on as well.'
The concern is palpable across the nation as data from the Australia Bureau of Statistics revealed that food prices increased by 8 per cent, travel and accommodation escalated by 25 per cent, and household electricity bills soared by a sharp 15.5 per cent over the past year.
Thankfully, the latest Consumer Prices Index (CPI) data indicated a pause in the relentless inflation climb, holding steady at a 3.4 per cent increase in January from the year prior.
This plateau brought a hint of encouragement as it suggested that the rate of price rises has momentarily ceased its acceleration.
The upcoming federal budget aims to build on these small glimpses of economic breathing space.
Part of the plan may include revamping the current stage 3 income tax cuts scheduled for July.
These tax cuts could potentially help alleviate the pressure many face from recurring household expenses.
Meanwhile, Opposition finance spokeswoman Jane Hume has also indicated that the Coalition is also in the midst of crafting its own cost-of-living strategies.
'We all want to see inflation come back to band. But the problem is it’s staying higher for longer because of the decisions this government is making,' Ms Hume said.
'Watch this space,' she added.
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But there's a beacon of hope on the horizon with the Australian government's promise of a 'massive' package to ease the financial burden.
Education Minister Jason Clare recently hinted at a comprehensive package coming in May, which intends to put more money back into the pockets of Australians.
Mr Clare emphasised the gravity of this issue, stating, 'The big issue for all Aussies, whether they are in Dunkley or around the country, is the cost of living.'
'That’s what's on everybody’s mind. Whether they’re paying bills at the supermarket or paying down their mortgage.'
Labor’s upcoming budget plans may potentially help alleviate the financial burden on many Australians. Image source: Shutterstock.
'The tax cuts will help with that, inflation going down will help with that, wages going up will help with that. But we’re very conscious that's the biggest issue Aussies face right now.'
'It’ll be a big part of the budget. That is the biggest issue in the country at the moment, it’s what all Australians are focused on, and it’s what we’re focused on as well.'
The concern is palpable across the nation as data from the Australia Bureau of Statistics revealed that food prices increased by 8 per cent, travel and accommodation escalated by 25 per cent, and household electricity bills soared by a sharp 15.5 per cent over the past year.
Thankfully, the latest Consumer Prices Index (CPI) data indicated a pause in the relentless inflation climb, holding steady at a 3.4 per cent increase in January from the year prior.
This plateau brought a hint of encouragement as it suggested that the rate of price rises has momentarily ceased its acceleration.
The upcoming federal budget aims to build on these small glimpses of economic breathing space.
Part of the plan may include revamping the current stage 3 income tax cuts scheduled for July.
These tax cuts could potentially help alleviate the pressure many face from recurring household expenses.
Meanwhile, Opposition finance spokeswoman Jane Hume has also indicated that the Coalition is also in the midst of crafting its own cost-of-living strategies.
'We all want to see inflation come back to band. But the problem is it’s staying higher for longer because of the decisions this government is making,' Ms Hume said.
'Watch this space,' she added.
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