High inflation but no household relief for at least six months
Joint media release with
The Hon Angus Taylor MP
25 January 2023
Despite the highest inflation in 33 years the Treasurer has today admitted household relief for electricity bills is at least six months away.
Today's inflation data shows cost of living pressures have deepened and are being made worse with the Albanese Government continuing to get the big economic calls wrong.
Shadow Treasurer Angus Taylor said the government’s only plan for inflation is to watch it rise.
“The Albanese Government is asleep at the wheel when it comes to inflation,” Mr Taylor said.
“It’s getting harder and harder for Australian families to make ends meet and yet the government’s accepting it as status quo.
“The Treasurer has his fingers and toes crossed, hoping inflation has now peaked but that’s cold comfort for the millions of Australians struggling to keep up with rising power bills, soaring grocery prices and surging mortgage repayments.
“As families start to pay off the Christmas credit card and expensive holiday accommodation, they’re forking out hundreds of dollars on new shoes, bags, uniforms and stationery to get the kids back to school.
“The Treasurer isn’t offering any solutions. Australians need a Treasurer who will take action instead of blaming everyone else.”
Shadow Finance Minister Jane Hume said it’s getting harder and harder for Australians to make ends meet under this Labor Government which is clearly incapable of managing the economy.
“More and more homeowners will start to come off fixed rates this year which will put an enormous dent in household budgets,” Senator Hume said.
“Without an economic plan from Labor, monetary policy is doing all the heavy lifting. Without an economic plan from Labor, it’s clear that hardworking Australian families and struggling businesses will continue to pay the biggest price.”