Anthony Albanese says his Government is looking at new ways to tackle Australia’s cost of living crisis in 2024 as households battle the pain of high inflation ahead of Christmas. Source: NCA Newswire.
Describing Labor’s cost relief strategy as a “plan for a better future”, the Prime Minister said he would continue to roll out targeted support in the new year and attributed a recent dip in his own personal approval rating to backlash from global economic pressures.
“We’re always looking at ways in which we can provide further cost of living relief, including getting advice from Treasury and Finance. We’ve already created some $23 billion of cost of living relief across health, including cheaper medicines, fee-free TAFE, strengthened paid parental leave, energy bill relief and housing support,” Mr Albanese said.
“But we understand that some people are doing it tough. Inflation affects the poor more than anyone else. It inversely affects people who can least afford to pay – and that’s something we are very conscious of.”
Recent data from consumer sentiment tracker Finder showed that two in five people across the country are struggling to pay to keep a roof over their heads.
The ongoing survey of more than 53,000 people found that the current levels of financial burden felt by households sit in the “extreme range”, at 79 per cent.
Treasurer Jim Chalmers flagged a potential budget surplus next May during last week’s economic update, which he said could pave the way for increased cost of living support.
Mr Albanese said while he understood people were doing it tough over Christmas, his government’s core focus over the summer months will be to bring down inflation.
Anthony Albanese says cost-of-living relief will be a main priority of his government in 2024 (Eleanor Campbell, NCA Newswire via News.com.au)