The sharp rise in hip-pocket concerns on the anniversary of the Albanese government comes as economists warn that the cost of living may get worse over coming months.
Wages grew by 3.7 per cent in the 12 months to March,a 10-year high – but when taking inflation into account,those wages are worth less.
The treasurer had a quick response on Monday morning when told of the claim by shadow treasurer Angus Taylor that anyone could deliver a surplus this year.
The surplus prediction contrasts with the Coalition’s last forecast for a $78 billion deficit this financial year,but the budget will sink into deficits again.
Finance Minister Katy Gallagher has confirmed the number of cuts and re-prioritisations in the May 9 budget will run into the billions of dollars.
The federal budget will include additional funding to encourage more women to return to work,as new polling shows people favour tax breaks and childcare subsidies for female workers.
Angus Taylor conceded “errors were made” in appointing the current board members but slammed the latest appointments for ignoring the review’s recommendations.
Treasurer Jim Chalmers says he does not want to “run the gauntlet of the Senate” to make reforms to the operation of the Reserve Bank.
The government and Coalition have struggled to reach common ground since last year’s election,but there are hopes on both sides for an agreement on RBA reform.
Only 37 per cent of voters believe super should be used for a deposit on a first home,highlighting a clash on plans to set the purpose of $3.3 trillion in savings.
Labor came under fire for not indexing their superannuation tax threshold,but will use modelling to show the Coalition’s own changes will affect triple the number of Australians.