The Albanese government is considering a second round of power bill discounts, on top of $1000-per-household credits promised by the Queensland government.
Already a subscriber?The Albanese government is considering going it alone with a second round of power bill discounts at the May 14 budget, arguing that like the initial relief handed out last year, the assistance would be non-inflationary.
With underlying inflation coming in at 4 per cent for the March quarter, which was slightly above market expectations, and the US Federal Reserve warning this week interest rates in the US will stay higher for longer, Dr Chalmers is ruling out any assistance in the budget, such as welfare increases, which would exacerbate the problem.
Calling it “the biggest cost-of-living initiative by a state government ever”, Premier Steven Miles and Treasurer Cameron Dick said the $2.5 billion program meant most Queenslanders would “not pay a single cent on their first power bill of the next financial year and many won’t pay another bill until 2025″.. Because they were paid up front as a discounted bill, rather than a rebate, Treasury claimed they actually helped reduce inflation by abut 0.2 of a percentage point.
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