With energy prices continuing to put pressure on household budgets, the federal government has promised additional relief. Treasurer Jim Chalmers has stepped into the spotlight with a pledge that may bring some relief to those feeling the pinch.
With the 25 March budget announcement on the horizon, Mr Chalmers has committed to delivering cost-of-living relief that aims to ease the burden of soaring energy bills without exacerbating inflation—a delicate balancing act that has become a central theme in the nation’s economic discourse.
The promise of assistance comes at a critical time. Energy prices are predicted to surge in parts of the country from July, with households expected to pay an additional $200 on average for their electricity bills. This increase, described by Sally Tindall, Canstar Blue’s data insights director, as a ‘sucker punch’ during a cost-of-living crisis, is set to disproportionately affect those on lower incomes, who already spend a larger portion of their earnings to keep the lights on.
In the face of these challenges, Mr Chalmers has signalled that the upcoming budget will include measures to provide ‘meaningful but responsible’ cost-of-living help. This approach, he argues, will continue the government’s track record of offering support in ‘the most responsible way’ they can.
The Treasurer’s comments suggest that the government is looking to offer targeted relief rather than broad cash handouts, which could potentially fuel inflation and undermine the Reserve Bank’s efforts to manage the economy.
The political landscape is heating up as well, with Liberal leader Peter Dutton expressing scepticism about the impact of energy rebates on inflation. Dutton has accused the government of failing to deliver on its pre-election promise to cut energy bills by $275 a year by 2025, pointing to the looming price hikes as evidence of policy shortcomings.
‘Because of Anthony Albanese’s energy policy, your electricity bill is going to go up by nine per cent—that’s another nine per cent, that’s not a $275 cut, which is what the Prime Minister promised you before the last election,’ he said.
The opposition leader has called for a more ‘balanced and sensible energy system’ to exert downward pressure on prices.
Meanwhile, Prime Minister Anthony Albanese has hinted at the possibility of extending the $300 energy rebates, emphasising the government’s commitment to providing cost-of-living relief.
‘Well, I’m determined to provide cost of living relief wherever we can. We’ve provided two lots of cost of living relief. We have also, of course, put a cap on gas and coal prices. All of those measures have been opposed by the Coalition,’ he said.
As you await the details of the budget, it’s clear that the conversation around energy costs and cost-of-living relief will remain at the forefront of politics. The government’s ability to deliver on its promises could have significant implications for the upcoming election and beyond.
What are your thoughts on the rising energy costs and the government’s proposed measures? Have you felt the impact of higher bills on your household budget? Share your experiences and opinions with the YourLifeChoices community in the comments below.
Also read: Last round of energy bill relief lands soon—here’s what you need to know
Our Liberal and Labor governments are responsible for rising power prices. It was them who sold off our generator’s to private enterprise resulting in multinational companies gaining a stranglehold on Australia’s electricity system.
Now those companies are screwing us over to provide maximum profits for their mostly overseas based shareholders.
Same thing has happened with our gas, all sold to overseas interests with none reserved for us to use ourselves so we have to buy some back at inflated prices.
The LNP and ALP have sold out Australia at every opportunity. I think a lot of palms must have been well greased in both parties. Put them both last when you vote.
Putting the ALP & LNP last on the Ballot Paper may have dire consequences.
If everyone does that, then the “Elected Government” will be a Hotchpotch Coalition of TEAL Politicians.
Good Luck with that outcome.
It would be far better to engage your Current Local Member, and make your views “well and truly known”.
Then, in the leadup to the Election, communicate those views with ALL your Local Candidates !!
Totally agree with you. The last energy relief even went to the wealthy. The WA government has apparently got a tax on energy, they take with one hand and then give some back to you. I only found out in this last state election. What a rip-off.
Strange, isn’t it? The greenies have been promising for years that the way to decrease electricity prices is to have more and more renewable power sources – wind and solar being the main examples. Well, we have been increasing our reliance on these for years, and our electricity prices have only gone up. And up. And up.
Sounds to me like a whole heap of hot air! Wait!! Maybe we should use all that hot air to drive the wind turbines? Problem solved!!!