Fuelled by high inflation because the Albanese Government can\u2019t get spending under control, Labor\u2019s HECS debt chaos is a mess of its own making.<\/p>\n\n\n\n
\u201cToday\u2019s announcement is all trickery and deceit and doesn\u2019t fix Labor\u2019s student debt trap that has hit 3 million Australians,\u201d Senator Henderson said.<\/p>\n\n\n\n
\u201cUnder Labor, student debts will still increase by a crippling 11.1% (3.9%, 3.2% and 4% as reported), driving up the average loan by $2,800.<\/p>\n\n\n\n
\u201cA HELP-HECS indexation rate of 4% this year would be the highest in 23 years.<\/p>\n\n\n\n
\u201cUnder the Coalition\u2019s strong economic management, low inflation meant indexation averaged just 1.7% pa.<\/p>\n\n\n\n
\u201cWhether it\u2019s student debt, housing or paying the bills, young Australians continue to suffer acute cost-of-living pain under this incompetent Labor government,\u201d Senator Henderson said.<\/p>\n\n\n\n
Shadow Treasurer Angus Taylor said student debt is only skyrocketing because of Labor\u2019s homegrown inflation.<\/p>\n\n\n\n
\u201cAustralians are paying the price for Labor\u2019s economic mismanagement. The best way to address growing HECS debts is to fight Labor\u2019s homegrown inflation at its source by reining in spending and strong budget management. Instead, Labor has let spending and inflation run out of control to the point that inflation is now stubborn, sticky, and homegrown.<\/p>\n\n\n\n
\u201cToday\u2019s announcement is a glaring admission from Labor that real wages have been going backwards under their government.<\/p>\n\n\n\n
\u201cThe policy announced will provide marginal relief to Australians struggling to pay down their debts with the rising cost of living, with experts expecting that over the next year indexation will still exceed 4%.<\/p>\n\n\n\n
\u201cWith the last budget forecasting WPI to exceed CPI from 2023-24, this change will only have an impact if Labor are expecting further collapses in real wages like Australians have experienced since the election.<\/p>\n\n\n\n
\u201cThere remain a number of questions Labor must clarify, including what the backdated proposal will mean for students who paid down their debts following the 7.1% indexation.<\/p>\n\n\n\n
\u201cLabor\u2019s response to inflation continues to put band aids on bullet wounds. To provide cost of living relief for all Australians, Labor must deliver a budget that puts downward pressure on its homegrown inflation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Fuelled by high inflation because the Albanese Government can\u2019t get spending under control, Labor\u2019s HECS debt chaos is a mess of its own making. \u201cToday\u2019s announcement is all trickery and deceit and doesn\u2019t fix Labor\u2019s student debt trap that has hit 3 million Australians,\u201d Senator Henderson said. \u201cUnder Labor, student debts will still increase by … Continue reading “Labor\u2019s HECS debt chaos is a mess of its own making”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-26549","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=26549"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26549\/revisions"}],"predecessor-version":[{"id":26550,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26549\/revisions\/26550"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=26549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=26549"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=26549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}