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Government ‘cannot promise’ net savings in budget update
Finance Minister Katy Gallagher says pressures on the federal budget mean the Albanese Government cannot promise it will find overall savings in its December update, even as Australians brace for another interest rate rise amid high inflation. Source: ABC News.
Albanese concedes savings needed
Prime Minister Anthony Albanese has ruled out major cuts to health, education and essential services in December’s mid-year budget update, but conceded savings are required as Labor struggles to curb accelerating inflation. Source: The Guardian.
A third of households struggling to feed themselves
One in three households is going hungry as the cost-of-living crisis bites and many people are reducing meal portions to make ends meet, new research has found. Source: The Age.
Gen Z Australians living with their parents in record numbers
Half of Australians in their 20s are still living with their parents, while a record share of lower-income families are suffering housing stress as the social and economic cost of the housing affordability crunch mounts. Source: Sydney Morning Herald.
ACOSS survey shows true scale of cost of living crisis
The latest Australian Council of Social Service annual survey of 1560 non-disability support recipients shows 97 per cent are in housing stress. Source: 9news.com.au.
Report finds renters ‘operating in a landlord’s market’
Australians are paying record-high rents across all the capital cities as low vacancy rates mean tenants are facing “a landlord’s market”. Source: ABC News.
Reserve Bank warns food prices likely to continue climbing
Food prices are likely to continue climbing as the fallout from the war against Iran ripples from farms through to the nation’s grocery distribution system, the Reserve Bank’s chief economist has warned. Source: Sydney Morning Herald.
Cost-of-living pressures top nation’s concerns in major survey
Australians are anxious about money and losing faith that things will get better, according to a major new survey of more than 15,000 Australians. Source: SBS News.
Report highlights food insecurity crisis across Australia
Food emergency charity providers are calling the ongoing cost-of-living crisis the “cost-of-surviving crisis”, as more and more Australians are not only skipping meals, but eating from bins to cope with severe financial distress. Source: SBS News.