Inflation figures out today confirm what many families are already feeling – the cost of everything is going up.
The ABS has confirmed The Consumer Price Index (CPI) rose 1.8 per cent this quarter. Over the twelve months to the June 2022 quarter, the CPI rose 6.1 per cent.
Shadow Treasurer Angus Taylor said Labor promised cost of living relief during the election campaign but is now telling struggling families they’ll need to wait. “Families are feeling it at the bowser, in the supermarket, when they pay their power bills and when they renovate their homes,” Mr Taylor said.
“Labor went to the election promising to ease the cost of living, reduce electricity costs and increase real wages but it’s only getting harder for Australian households and the Government has offered no real plan to address these challenges.
“We haven’t seen inflation this high in more than three decades. The Government can make choices to address these pressures. The Treasurer should avoid being complacent about these real pressures on Australians and outline a proactive plan to address inflation.
“Australians are already paying the price for the lack of a Labor plan.”
Shadow Minister for Finance Senator Jane Hume said the Government needed to provide a clear and credible path forward to managing the budget, not just excuses.
“Jim Chalmers says that his statement tomorrow will be outlining why his job is hard. Labor had all the answers during the election campaign, but now at a time when Australians are paying more for their groceries, their petrol and their homes, there are no solutions in sight from the Government,” Senator Hume said.
“Australians are feeling the pinch in their pockets and need more than the same old excuses from Labor to afford basic necessities.
“The International Monetary Fund report released overnight has confirmed that the Government needs to act and plan for the future now.
“The former Coalition Government left Labor with the toolkit to continue Australia’s strong economic position. Record low unemployment, strong GDP growth, historically low interest rates and the largest turn around to the budget bottom line in 70 years.
“Anthony Albanese needs to provide Australians with a plan to help them deal with this cost of living crisis, not a list of excuses.”