Cost of living crisis
Posted by: dreamer27
20th Mar 2025 04:53pm
What are your thoughts on how the government are handling this cost of living crisis.
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Comments 3
jtmorri
Other than cost of living relief, regulation and senate enquiries and reviews, the State and Federal governments of Australia cannot change the cost of living dramatically for citizens, as it is the companies that we individually engage, that set their own costs and charges. Also, there are other factors at play like external global market forces which are not within Australia's control, both government and businesses.
The Federal Labor government has provided electricity bill relief, undertaken senate enquiries into the supermarket duopoly, reviews the private health fund increases yearly and limits the increases, pays and/or funds pensions, Ndis, unemployment, single mother, Medicare, pbs, infrastructure, hospitals, education from childcare and kindy through to university, first home buyer schemes, social housing, green initiatives, environment and climate change response, defence, cybersecurity, immigration and Border force. The Labor Federal Government also knows that insurance and registrations continue to rise, and they are focusing on natural disasters, inflation, and repair costs. The Insurance Council of Australia has called for coordinated action to tackle these challenges, including addressing labour shortages and improving disaster resilience. The Labor government knows there needs to be stronger oversight of all businesses to prevent price gouging and ensure fairness in pricing.
A consumer should review their own costs (including subscriptions and nonessential expenses, compare companies and take their business elsewhere for better deals. When a business has increased costs such as raw materials, suppliers, transport, production costs, warehousing, shipping etc they pass these onto the consumer to keep their business profitable. When businesses do it tough, consumers end up having to pay more. All the Federal government or any State government can do is regulate against unfair charges, price hikes and price gouging.
jtmorri
Another thing I thought of that the Federal government has done is ensure the basic wage has increased. The current Federal government started from a base where Morrison Liberal government stopped wage growth, did not build social housing, had a focus on big and small business rather than social policy and the Australian community. They lacked a long-term vision.
cjc1959au
They aren't handling it at all!!