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Growing number of Australians in mortgage stress amid rise in home loan defaults
Australians are defaulting on their home loans at growing rates as the number of borrowers at risk of mortgage stress peaks at levels not seen since 2008, when the global financial crisis hit. Source: ABC News.
Catholic Social Services welcomes rise in welfare payments
Catholic Social Services Australia says the passage of legislation to raise a number of welfare payments will provide targeted cost-of-living relief to about two million Australians that need it most.
One in 10 Australians unable to pay bills
More than one in 10 Australians were unable to pay a gas, water or electricity bill over the three months to June, with a similar proportion saying they missed a payment on their phone or internet due to financial pressures. Source: The Australian.
Chalmers’ tough message for struggling households
The Albanese Government is “not currently working on” a new package of living cost relief despite expectations the Budget surplus will exceed $20 billion, Treasurer Jim Chalmers has warned. Source: Canberra Times.
Young people the most generous to those struggling with rising costs
The cost-of-living-crisis has caused most Australians to tighten their figurative belts, but that hasn’t stopped many people from continuing to support others where they can. Source: SBS News.
Cost-of-living pressures lead to drop in national mood and outlook
Cost-of-living pressures have emerged as the leading concern for households as Australians become increasingly pessimistic about the path the country is taking, a major survey has revealed. Source: The Australian.
Albanese considers further cost-of-living relief but no ‘cash splash’
Prime Minister Anthony Albanese has left the door open to providing further cost-of-living relief for struggling Australians but cautioned against expectations of a looming “cash splash”. Source: News.com.au.
Government says paying off debt comes before cost-of-living relief
The Albanese Government has dashed hopes it will use a bigger-than-expected surplus to fund additional cost-of-living relief for Australians doing it tough. Source: News.com.au
Minimum wage not enough to get by: Anglicare
The spiralling cost of living leaves a family of four with two full-time workers on the minimum wage with just $73 left after expenses, according to a new living cost analysis by Anglicare Australia. Source: Canberra Times.