Holiday over as Anthony Albanese recalls his MPs for urgent talks to curb inflation and cost-of-living pressures
The Prime Minister has called government MPs back to Canberra nearly two weeks early for a crisis meeting on the cost of living. With everyday budgets still taking a hit, the Labor caucus has been tasked with finding new ways to help households without fuelling inflation.
Category
📺
TVTranscript
00:00 Petrol, power, housing, groceries and everything in between.
00:07 That's $162.
00:10 So that one all together was $180. It's impossible to afford to eat anymore.
00:15 The cost of living crisis is hitting hard.
00:18 You're at home a lot more of your time instead of going out and enjoying yourself.
00:23 Electricity has skyrocketed and realistically we are behind so it's just really hard to keep on top of it right now.
00:31 The government is under pressure to act.
00:34 Our key focus is to tackle inflation.
00:38 In an effort to deal with the crisis, the Prime Minister has called MPs back to Canberra two weeks early
00:45 to hold a meeting to discuss the pressure on household budgets.
00:49 As the Prime Minister has said, we are always looking at how we better support Australians,
00:56 particularly with cost of living relief, but at the same time not adding to our inflation challenge.
01:02 Treasury has been asked to put forward suggestions and while it's not clear what they'll be,
01:08 economists are backing an extension of energy bill rebates.
01:13 The complication is though in a cost of living crisis when you make stuff cheaper for people
01:19 that means they can spend more and they do and that adds to inflation.
01:23 Well I tell you what the greatest relief of all is, is lower inflation.
01:27 And that's relief for every single Australian.
01:30 The announcement of Anthony Albanese's surprise caucus meeting comes just a day after the
01:36 International Monetary Fund urged further restraint in government spending to stem the cost of living.
01:42 At the same time, questions are being asked about the stage three tax cuts which are still set to take effect in July
01:50 and the government insists their position hasn't changed.
01:53 [BLANK_AUDIO]