Albo’s hint of lifeline
Budget support for families and small businesses on cards
Anthony Albanese has given his strongest suggestion yet that an energy bill lifeline could be extended to Australian families and small businesses in the May budget.
At a speech to the Council of Small Business of Australia’s national summit on Thursday, the Prime Minister said helping families and small businesses would again be “front and centre in our thinking” as Labor prepares the May budget.
Mr Albanese said the energy bill relief package in last year’s budget, in conjunction with states and territories, had delivered up to $650 in savings for about one million small businesses and five million families, and he recognised the struggle was continuing.
Ahead of his speech, Mr Albanese said moderating inflation rates and wage growth showed “positive signs” that the economy was on the up, but wouldn’t confirm what exact cost-of-living measures people should expect.
“We’re looking at what we can do to provide further costof-living relief without putting pressure on inflation,” he told ABC. “… We understand that some people are doing it tough, and that we need to … look at ways in which we can provide support for people.
“Our cost-of-living relief priorities included our energy price relief plan last year, and that did have a positive impact. We want to provide support for individuals, but also particularly for small businesses.”
Health Minister Mark Butler had earlier said cost of living was “at the centre of our plan”, namely the changes to stage 3 tax cuts.
“The Treasurer, the Prime Minister have also said that small businesses, but also obviously Australian households and their struggle with the global cost-of-living crisis, is front and centre as we’re preparing the budget to be delivered in May,” he said.
During his speech, Mr Albanese focused on the need to bolster the solar power industry, heralding small businesses as having “consistently led the nation” in embracing solar power to “take control of their bills”.
“Solar power is a smart investment that delivers an important return to businesses on tight margins,” he said.
Mr Albanese’s speech follows last week’s $1bn announcement of a new program to build more solar panels in Australia for Australia, when he spruiked a “future made in Australia” as the centrepiece of the May budget.
On Thursday, Mr Albanese reiterated on his pitch to increase Australia’s manufacturing capabilities.