Cost-of-living pressures bearing down on Australian families and businesses will mount even higher from today as the culmination of Labor’s new carbon tax and further electricity bill increases begin to take a toll.
From July 1 Australians will be forced to pay some of the highest electricity prices in the world, with increases of up to 28.9% to hit future bills.
That’s an additional $564 a year that Australian households need to find just to keep the lights on and a whopping $1,738 for small businesses.
Shadow Minister for Climate Change and Energy, Ted O’Brien says the skyrocketing cost of energy will place further unnecessary pressure on households when they can afford it least.
“Labor’s new carbon tax in combination with enormous energy bills increases of up to a third couldn’t come at a worse time for Australians who are already doing it tough,” Mr O’Brien said.
“Energy prices are at the centre of Labor’s inflation price spiral and yet it is doing absolutely nothing to alleviate this pressure going forward.”
“This will come as a slap in the face to hardworking Australians that were promised a reduction of $275 in their energy bills by the Albanese Labor government,” Mr O’Brien said.
July 1 also marks the beginning of Labor’s new carbon tax which the Coalition warns will only place further pressure on prices across the economy.
“Labor’s safeguard reforms, which comes into force from today, represent one of the most punitive carbon taxes in the world and will put upward pressure on prices economy wide.”
“Everything from fertiliser to food and concrete to construction will be impacted and its everyday Australians that will pay for it.“