Prime Minister Albanese reveals a new plan to slash the cost of living for Australians
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Most people have been facing budgeting constraints as inflation bites across the economy. Rising food, fuel and housing costs have put a tremendous financial strain on many families already doing it tough after the pandemic.
In a move that could bring much-needed relief to many, Prime Minister Anthony Albanese has announced the government's intention to introduce new measures to ease families' cost of living pressures nationwide.
With the May budget on the horizon, the Prime Minister has signalled that his administration is actively seeking ways to alleviate financial stress without exacerbating inflation.
During a press conference in Sydney, Mr Albanese expressed optimism about the year ahead, emphasising that the government's focus will be on providing cost of living relief.
'Our priority will be to provide cost of living relief whilst taking pressure off inflation,' he stated, acknowledging the dual challenges that have hit Australians hard: the COVID-19 pandemic and global inflation.
‘I have asked Treasury and Finance to come up with further propositions that we’ll consider in the lead-up to the May budget this year,’ he added.
While specific details of the measures are yet to be disclosed, Mr Albanese highlighted the government's awareness of the burden that global events have placed on the cost of living in Australia.
In response to these challenges, the government has already implemented several initiatives, including fee-free TAFE to support education and skills development, an energy price relief plan to tackle rising utility costs, and a significant reduction in the price of medicines.
The Prime Minister also mentioned a change for rent relief in the press conference. He said: ‘That’s why we’ve also undertaken increases in rent relief, for example—the largest increase in rent assistance for 30 years, along with other measures that we took assisting single mums.’
In a social media post, Mr Albanese briefly touched upon the government’s plan for Medicare and Home Guarantee Scheme.
He wrote: ‘We're working hard to strengthen Medicare, and we're starting the year with all 58 of our free Urgent Care Clinics up and running.’
‘As of today, our expanded Home Guarantee Scheme has helped 26,000 Australians buy a place of their own. In 2024, it will help thousands more,’ he added.
Mr Albanese also pointed out that cash handouts will be curtailed to avoid inflation.
‘We asked [the Treasury and Department of Finance] to consider what measures can take pressure off families on [the] cost of living without putting pressure on inflation. That’s the key issue,’ he stated.
‘If you were just to distribute additional cash to people, you potentially make inflation worse and therefore don’t help to solve the problem.’
You can watch Prime Minister Albanese’s announcement here:
What do you think about the Prime Minister's announcement? Do you believe these measures will be enough to alleviate the cost of living pressures you're experiencing? Share your thoughts in the comments below.
In a move that could bring much-needed relief to many, Prime Minister Anthony Albanese has announced the government's intention to introduce new measures to ease families' cost of living pressures nationwide.
With the May budget on the horizon, the Prime Minister has signalled that his administration is actively seeking ways to alleviate financial stress without exacerbating inflation.
During a press conference in Sydney, Mr Albanese expressed optimism about the year ahead, emphasising that the government's focus will be on providing cost of living relief.
'Our priority will be to provide cost of living relief whilst taking pressure off inflation,' he stated, acknowledging the dual challenges that have hit Australians hard: the COVID-19 pandemic and global inflation.
Prime Minister Anthony Albanese announced the government's intention to introduce new measures to ease families' cost of living pressures. Source: Anthony Albanese/Facebook
‘I have asked Treasury and Finance to come up with further propositions that we’ll consider in the lead-up to the May budget this year,’ he added.
While specific details of the measures are yet to be disclosed, Mr Albanese highlighted the government's awareness of the burden that global events have placed on the cost of living in Australia.
In response to these challenges, the government has already implemented several initiatives, including fee-free TAFE to support education and skills development, an energy price relief plan to tackle rising utility costs, and a significant reduction in the price of medicines.
The Prime Minister also mentioned a change for rent relief in the press conference. He said: ‘That’s why we’ve also undertaken increases in rent relief, for example—the largest increase in rent assistance for 30 years, along with other measures that we took assisting single mums.’
In a social media post, Mr Albanese briefly touched upon the government’s plan for Medicare and Home Guarantee Scheme.
He wrote: ‘We're working hard to strengthen Medicare, and we're starting the year with all 58 of our free Urgent Care Clinics up and running.’
‘As of today, our expanded Home Guarantee Scheme has helped 26,000 Australians buy a place of their own. In 2024, it will help thousands more,’ he added.
Mr Albanese also pointed out that cash handouts will be curtailed to avoid inflation.
‘We asked [the Treasury and Department of Finance] to consider what measures can take pressure off families on [the] cost of living without putting pressure on inflation. That’s the key issue,’ he stated.
‘If you were just to distribute additional cash to people, you potentially make inflation worse and therefore don’t help to solve the problem.’
You can watch Prime Minister Albanese’s announcement here:
What do you think about the Prime Minister's announcement? Do you believe these measures will be enough to alleviate the cost of living pressures you're experiencing? Share your thoughts in the comments below.
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