A $275 cut to power prices? ● Australian families will be better off? ● Cheaper mortgages? ● Higher real wages? ● No increase in the tax burden? ● No changes to superannuation? ● Franking credits won't be touched? ● Industrial relations bargaining would not be industry-wide? ● 30,000 public houses over five years? ● No division? ● More bulk billing? ● To keep people safe?
"We have practical plans for... cheaper electricity bills, $275 a year off your electricity bill by 2025..."
In just 2 years:
Electricity bills for 2024-25 are set to be up to $752 more under regulated prices. That’s a gap of over $1,000 compared to what Labor promised.
The number of Australians on financial hardship arrangements for their electricity is up nearly 60% under Labor – that’s more than 500 families a week.
"Under our plan, no family will be worse off but almost all families will be better off."
Under Labor, Australians are worse off. Prices have increased by nearly 10% with increases for many essential items well beyond that:
- housing is up 12%,
- rents are up 12%,
- insurance is up 26%,
- electricity is up 18%, and
- gas is up 25%.
"Labor has real, lasting plans for... cheaper mortgages."
Interest rates have gone up 12 times under Labor. Under Labor’s Budgets to date, the typical Australian household with a mortgage is more than $35,000 worse off.
Higher interest rates also mean higher rents. Rents have had their highest increase since 2009.
"Labor has real, lasting plans for... better pay."
Over the past two years, real disposable income per person fell by 7.5%.
For a full time average income earner, this is the equivalent of a decline in take home pay of just under $8,000, primarily driven by rising mortgage payments, falling real wages and increasing taxes.
JOURNALIST: "Are you prepared to raise tax as a share of the GDP in the name of responsible budget management?"
ALBANESE: "No, our objective is not about raising taxes."
Labor has abandoned the tax cap of 23.9% of GDP.
In Labor’s first two years, personal taxation has risen by 29%.
JOURNALIST: "Does Labor commit to the current super arrangements for self-funded retirees, and other superannuants? And do you rule out any increase to super taxes and changes to caps?"
ALBANESE: "We've said we have no intention to make any super changes."
Labor is doubling the tax on Australians who have worked hard, sacrificed and saved to invest in their super.
Because they haven’t indexed balances above $3 million this will affect millions of Australians over coming years.
It will capture more than 2 million Australians under the age of 25 earning an average wage during their lifetime.
JOURNALIST: "Deborah has a question about franking credits. Is that an issue? You're not touching those?"
ALBANESE: "We're not touching them."
The government has legislated to remove franking credits connected to capital raisings and share buybacks.
This means $555 million of additional tax (over four years) on investors and self-funded retirees, who rely on franking credits for their retirement.
JOURNALIST: "I'm just asking you about industry-wide bargaining. Is it a yes, or a no, or a maybe?"
CHALMERS: "It's not part of our policy... I've just explained to you what our policy is on industrial relations, we've already announced that some time ago."
Labor passed legislation moving Australia’s industrial relations system from bargaining at the enterprise level to bargaining across multiple workplaces and potentially a whole industry.
This massively expands the power of trade unions – allowing them to operate in businesses they currently have no connection to. This includes tens of thousands of small businesses right across Australia.
Under Labor’s legislation, multiple sectors will be able to engage in economy-wide strikes. By adding red tape to supply chains, Labor’s changes are inflationary.
"We've already announced the Housing Australia Future Fund to build houses for homeless Aussies. 30,000 homes, social housing homes and affordable housing homes for Australians who need it."
As of 1 April, the Fund has not provided any disbursements, with no dwellings likely to be built before the next election.
"But it’s now time - stand up, dust ourselves off, and get on with the business of making Labor … a political party that offers a different agenda to the Government: a fairer agenda, a more inclusive agenda, an agenda that brings the nation together on economic, social, and environmental policy ..."
Albanese persisted with a $450 million referendum in 2023 on an Indigenous Voice to Parliament which was legally risky, with unknown details, and divisive.
Over 60% of the country voted No.
"Importantly, particularly here in Tasmania, no matter where I have been, bulk billing is such a big issue. These services will be bulk-billed. And that will make a difference. You will not need your wallet - just your Medicare card.
"Labor will always strengthen and protect Medicare."
When the Leader of the Opposition was Health Minister in 2013, he inherited a bulk billing rate of 73% and increased it to 84%.
When the Coalition left government, bulk billing was 88.5%.
Bulk billing has now decreased to 77% – an 11% drop.
"One of the reasons why we have legislation, that Labor has supported, regarding issues like detention, surveillance … is to ensure that the community can stay safe … The Government's first job is to keep people safe, that's my view."
The Albanese Government released 153 hardcore criminals from immigration detention, including seven murderers, 37 sex offenders, and 72 other violent offenders.
At least 18 of the released criminals have been charged by state and territory police for new offences against Australians, and up to 22 of them have been charged for breaching visa conditions.
More than half of the 153 criminals aren’t required to wear an ankle monitor, and the Government hasn’t made an application to re-detain a single one of them.
The Reserve Bank Governor has sounded the alarm on inflation being home-grown.
Labor’s economic and energy policies are making inflation worse.
Labor promised a $275 reduction in power bills. In just 21 months, the cost of electricity is up 18% (even with rebates), while gas is up 25%.
Increased energy costs add to inflation directly, but they also raise firms’ costs (for manufacturing, refrigeration, transport, etc), further fuelling inflation.
Under Labor, productivity has plunged by 5.4%. Falling productivity means businesses must either cut wages or put prices up sharply to stay afloat.
With 12 interest rate rises under Labor and the highest rent rises since 2009, Australians are already struggling to find affordable housing. Yet Labor is bringing a record 1.67 million more people to Australia over five years while cutting infrastructure – driving up housing costs and adding to firms’ transport costs due to congestion.
Instead of focussing on a plan to tackle inflation and interest rates, Labor has been focussed on other priorities, like its failed $450 million Voice referendum.
In three Labor Budgets, the Government has lifted spending by a staggering $315 billion – or $30,000 per Australian household.
Increased government spending adds to demand pressures, causing higher inflation.
Under Labor’s Budgets to date, the typical Australian household with a mortgage is more than $35,000 worse off.
The reason interest rates have gone up 12 times is because the Government can’t control its spending – and because of its reckless energy policy.
The Government has admitted that at least 18 of the released criminals have been charged by state and territory police for new offences against Australians, and up to 22 of them have been charged for breaching visa conditions.
The Albanese Government admitted it hadn’t made a single application to lock up any of these hardcore criminals released onto the streets.
In January, Labor’s Immigration Minister ordered his department to take a softer approach when considering whether to deport New Zealanders who have been sentenced to a year or more in prison.
By contrast, the Coalition refused or cancelled 10,206 visas under the character provision of the Migration Act. This includes violent criminals, sex offenders and drug traffickers.
Electricity and gas prices have gone up by 18 and 25% respectively.
The Albanese Government’s renewables only policy will see 90% of 24/7 power switched off over the next ten years.
The Government’s plan is to generate 5 gigawatts of renewables per year. Just last year, only 1.3 gigawatts were committed – almost 75% off target.
Re-wiring our country will cost at least $1.3 trillion with families, farmers, manufacturers, and businesses all stuck with the bill.
They have just backflipped on their week-old Future Gas Strategy to lock in a deal with the Greens on higher taxes and slower approvals which will further raise barriers to needed new investment.
Labor has abandoned the Coalition’s tax cap of 23.9%. In Labor’s first two years, personal taxation has risen by 29%.
Labor’s changes to the “safeguard mechanism” means a new carbon tax at $75 per tonne – three times the rate of Julia Gillard’s.
Labor’s family car and ute tax will add thousands to the purchase costs of some of Australia’s most popular cars.
The Coalition will restore 20 sessions permanently to provide critical support for Australians who are struggling.
Labor’s family car and ute tax will add thousands to the purchase costs of some of Australia’s most popular cars, while delivering massive multi-billion-dollar subsidies to Elon Musk’s Tesla and Chinese electric vehicle makers.
Throughout the process, the Prime Minister mis-stepped and overreached. Labor’s Voice was legally risky, with no details. It divided our country, with the “No” Vote exceeding 60%.
In the words of veteran political commentator Laurie Oakes: "When you handle something as big as the Voice as badly as he handled it, people are naturally going to assume that you're not handling other things very well either... He's come out of this Voice referendum looking like an incompetent dill and he may be stuck with that." (Source: 2GB, 31/10/2023)