The Federal Budget, recently announced by Treasurer Jim Chalmers has many residents of the Snowy Mountains along with families nation wide considering how the changes will impact their hip pocket. With its focus on cost-of-living relief, tax cuts, and healthcare enhancements, the Albanese Government hopes to ease financial pressures while aiming for long-term national growth.
Kristy McBain, Member for Eden-Monaro, has outlined key components of the budget, underscoring a commitment to direct relief. “Last night Jim Chalmers delivered our 4th Budget,” Ms McBain said, emphasising tax cuts and energy bill relief.
PHOTO: Treasurer Jim Chalmers with Member for Eden-Monaro Kristy McBain.
The decision to award every household an extra $150 this year in energy rebates aims to mitigate soaring power bills, and the government’s $7.9 billion Medicare boost plans to facilitate increased free General Practitioner (GP) visits according to Ms McBain. Additional measures aim to enrich the nation’s healthcare staffing, with a pledge to train 2,000 new GP trainees annually by 2028, as noted by Ms McBain.
On the housing front, Ms McBain noted the expansion of the “Help to Buy” programme, which she said, “will help more people achieve home ownership.” She also sighted a reduction in the maximum cost of medicines under the Pharmaceutical Benefits Scheme to $25 down from $31.60.
PHOTO: Jo van der Plaat – campaigning strongly in lead up to the election.
In contrast, Jo van der Plaat, Liberal Candidate for Eden-Monaro, criticised the budget, describing it as “a Budget for an election, not one for our country’s future prosperity.” Ms Van der Plaat pointed to perceived inadequacies in addressing broader economic challenges.
Ms van der Plaat reported, “Under Kristy McBain an Labor Australia has seen the biggest fall in living standards in the developed world… Australia’s core inflation is higher than any other advanced major economy.” Her remarks highlight concerns that the immediate relief efforts may not compensate for deeper systemic economic issues, such as the record number of small business failures and ongoing inflationary pressures.
In alignment with Prime Minister Anthony Albanese, Ms McBain said this budget lays “strong foundations” for future national security and growth amidst global uncertainties. However, treasury reports suggest an expected deficit of $42.1 billion by 2025-26, placing the Albanese Government under increasing pressure ahead of the looming election.
Residents in Eden-Monaro face the task of weighing these budgetary measures as they prepare to vote, evaluating how policies will materially impact their lives amidst ongoing financial and geopolitical turbulence.