How would Jessie relieve the cost of living pressures being experienced by families and small businesses in Bean and Australia more widely?
Answer
The price of keeping a roof over your head, energy flowing, food on the table and necessary care services are all rising faster than wages. Cost of living is complex and current global uncertainties may be beyond the direct control of the government. However there are many household budget components where governments can play a role. We must continue to highlight and tackle the role climate change plays in the cost of living - food security through to energy to insurance costs are all impacted by the increasing rate and severity of climate disasters.
- As well as driving down the use of fossil fuels and increasing our transition to renewable energy to combat climate change, there are other cost-of-living pressures where governments can provide some relief. These include:
- Government support for the up-front costs of household electrification
- A new national accord for housing that looks at more than only supply (see housing affordability)
- Tackle price gouging by big companies including the introduction of a price commission.
- Explore mechanisms that government can utilise to control inflation rather than relying only on Reserve Bank interest rate rises which effectively transfer money from individuals to the banks: the continued expansion of affordable childcare, ensure Commonwealth Rent Assistance keeps pace with costs, review further PBS inclusions and Medicare improvements.
- Immediately raise Job Seeker, Youth Allowance and related income support payments, as a top priority, as advised by the independent Economic Inclusion Advisory Committee.