Today Show host Ally Langdon criticized the first budget of the Albanian government for failing to address the mounting cost of living crisis.
Wednesday morning, the agitated host informed viewers that there was ‘nothing’ in Tuesday’s budget to assist those struggling to make ends meet.
She stated, “We’ve been assured that pay won’t change for at least two years here.”
“Electricity and gasoline prices are on the rise.
‘If you are currently struggling, there is no immediate benefit to you from this.
Michele O’Neil, speaking at the Australian Council of Trade Unions (ACTU), concurred with Langdon and stated that “so much more has to be done.”
She stated, “Wages have been stagnant for a decade, and they are declining in real terms.”
In the past year, CEO compensation has increased by more than 40%, while earnings have increased by 28%.
Workers are not receiving a portion.
The government claims it is doing all it can to assist Australian people, despite the fact that soaring electricity rates will strain already-tight household budgets.
According to budget projections, retail electricity rates are also likely to grow by 56% over the next two years, while gas prices are anticipated to increase significantly.
Treasurer Jim Chalmers stated that growing prices were a significant contributor to the nation’s inflationary pressures, but he admitted that he did not know when prices would begin to decline.
‘There is no point in pretending otherwise… we will face these issues for a bit longer than we would want, which is why cost-of-living relief is so crucial,’ he told ABC TV.
However, according to Dr. Chalmers, climate and environment financing would indirectly reduce power prices.
The budget contained $20 billion over ten years for low-cost financing of new electrical transmission systems, as well as a $1.9 billion fund to support regional employment and emission reductions.
“Renewable energy is not only greener energy, but also cheaper energy,” Dr. Chalmers explained.
“There is more work to be done when it comes to the electrical sector, and we are aware that current electricity rates are making life more difficult for Australians who are already struggling,”
Dr. Chalmers denied that the government had violated an election pledge to reduce home electricity rates by $275 per year, and added that a $7.5 billion cost-of-living package will assist alleviate short-term consumer hardship.
This is a big strategy to reduce the cost of living, he remarked.
If you provide cost-of-living relief in an excessive or indiscriminate manner, you run the danger of driving inflation and interest rates even higher.
Shadow Treasurer Angus Taylor stated that Labor had breached a number of commitments and lacked the necessary infrastructure to reduce prices.
Sky News quoted him as saying, “You need to get more gas supply into the home gas networks and more dispatchable electrical generation in place.”
“I don’t see anything from Labor that would accomplish any of those goals, so the situation will deteriorate and Australians will pay the price,” he said.