Cost of Living

The COVID pandemic and the Ukraine war have caused a worldwide surge in inflation. We understand the pressure this has put on Australian households, particularly soaring energy bills. We have acted to address these challenges. Our first two budgets have delivered responsible, targeted measures, without adding to inflation.

These measures include:

  • Strengthened the safety net through increases to JobSeeker, Youth Allowance, the Single Parent Payment and Commonwealth Rent Assistance
  • Lowered the cost of medicines to a maximum of $12.50 a script and tripling the Medicare bulk-billing incentive to increase access to a GP.
  • Delivering up to $3 billion of electricity bill relief, including green energy rebates for local businesses
  • Provided $250 power bill relief to Victorian households, on top of $250 payment through Victoria’s 2023 Power Saving Bonus Payment for eligible concession card holders
  • Reduced childcare costs for about 1.2 million families.

All of these measures show that Labor in government is determined to act on our core values, making Australia a fairer and better place to live. We do this by providing essential assistance to those who need it.