The plan is designed to directly ease price pressures and inflation, the government said, which eased in the first quarter but still sits near 30-year highs.
Lamp posts in front of the Reserve Bank of Australia building in Sydney, Australia, on Monday, Feb. 6, 2023.Australia's center-left Labor government said on Monday it would include 14.6 billion Australian dollars over four years in the federal budget for cost of living relief for families and businesses, which it promised would not stoke inflation.
The plan is designed to directly ease price pressures and inflation, the federal government said, which has eased in the first quarter but still sits near 30-year highs of 7.0%."The centerpiece of the budget ... will be cost-of-living relief that doesn't add to inflation," Treasurer Jim Chalmers said in a statement, ahead of Tuesday's federal budget.
"People are under the pump. We've carefully calibrated and designed this Budget so that it takes pressure off the cost-of-living rather than add to it." The government is set to unveil in the budget financial assistance for more than 5 million low-income families, small businesses and pensioners struggling with high power bills.
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