{"id":26652,"date":"2024-05-15T16:05:34","date_gmt":"2024-05-15T16:05:34","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=26652"},"modified":"2024-05-15T16:05:34","modified_gmt":"2024-05-15T16:05:34","slug":"easing-cost-of-living-pressures","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2024\/05\/15\/easing-cost-of-living-pressures\/","title":{"rendered":"Easing cost-of-living pressures"},"content":{"rendered":"\n<p>Helping Australians with the cost of living is our Government\u2019s number one priority.<\/p>\n\n\n\n<p>This Budget delivers a tax cut for every taxpayer, provides new energy bill relief for every household, cuts student debt and increases rent assistance for nearly 1 million households.<\/p>\n\n\n\n<p>The Albanese Labor Government knows many Australians are doing it tough and is focused on easing those pressures.<\/p>\n\n\n\n<p>Our Budget centrepiece is a tax cut for every one of the nation\u2019s 13.6 million taxpayers, which will begin flowing in less than seven weeks.<\/p>\n\n\n\n<p>These cost-of-living measures have been carefully designed to take pressure off Australians doing it tough and to directly reduce inflation.<\/p>\n\n\n\n<p>For a family on a combined income of around $130,000 \u2013 with one partner earning $80,000 and the other $50,000 \u2013 their combined tax cut will be over $2,600 a year or about $50 a week. They will also be eligible for $300 in energy bill relief in 2024\u201325.<\/p>\n\n\n\n<p>Energy bill relief and the increase to Commonwealth Rent Assistance are expected to directly reduce inflation by half of a percentage point in 2024\u201325 and not expected to add to broader inflationary pressures.<\/p>\n\n\n\n<p>This Budget builds on the ongoing relief provided in our first two budgets, which includes making it easier to see a bulk billing doctor, making medicines cheaper, cheaper child care and higher JobSeeker and other working age and student payments.<\/p>\n\n\n\n<p>Cost-of-living help in the 2024-25 Budget:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>All 13.6 million Australian taxpayers will get a tax cut, with an average cut of $1,888 a year or $36 a week.<\/li><li>$3.5 billion in energy bill relief for all Australian households and one million small businesses.<\/li><li>$1.9 billion to increase Commonwealth Rent Assistance by a further 10 per cent, benefiting nearly 1 million households.<\/li><li>Cheaper medicines as part of the up to $3 billion agreement with community pharmacies.<\/li><li>Waiving $3 billion in student debt for more than 3 million Australians to make student loans fairer.<\/li><li>Getting a fairer deal for consumers at the supermarket checkout.<\/li><li>$1.1 billion to pay superannuation on government-funded Paid Parental Leave.<\/li><li>$138 million to boost funding for emergency and food relief and financial support. services<\/li><li>Provisioning for higher wages for aged care and child care workers.<\/li><li>Extending the freeze on deeming rates for 876,000 income support recipients.<\/li><\/ul>\n\n\n\n<p>Our responsible policies are helping address the cost of living pressures around the kitchen table and around our economy.<\/p>\n\n\n\n<p>This Budget is not the beginning of our action on cost of living and it won\u2019t be the end.<\/p>\n\n\n\n<p>The Albanese Labor Government\u2019s third Budget is designed to see people through these difficult times, stare down the inflation challenge and set our country up for the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Helping Australians with the cost of living is our Government\u2019s number one priority. This Budget delivers a tax cut for every taxpayer, provides new energy bill relief for every household, cuts student debt and increases rent assistance for nearly 1 million households. The Albanese Labor Government knows many Australians are doing it tough and is &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2024\/05\/15\/easing-cost-of-living-pressures\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Easing cost-of-living pressures&#8221;<\/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-26652","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\/26652","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=26652"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26652\/revisions"}],"predecessor-version":[{"id":26653,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26652\/revisions\/26653"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=26652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=26652"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=26652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}