Budget 2023: Treasurer Unveils $1.5 Billion Electricity Bill Package to Help Millions of Aussies
Five million households and one million businesses will be supported by a reduction in energy bills of up to $500.
The $1.5 billion package will be announced in Tuesday’s budget, subsidizing electricity costs for small businesses, retirees and other people on government paychecks.
But the amount of money you receive depends on where you live, with Treasurer Jim Chalmers indicating that the government has had to negotiate several energy deals with eight different state and territory governments.
“More than 5.5 million households will get some help with their electricity bills, and about a million small businesses will also qualify, to take some of the edge off what are the main drivers of this pressure on the economy. cost of living,” said Dr Chalmers. ABC.
“People get hundreds of dollars if they have a pension and benefits, or own a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are willing to kick in, because this is a co-invest with them.”
Dr. Chalmers says Tuesday’s budget will provide relief to struggling Australians, but should not exacerbate inflation.
Dr Chalmers on Sunday would not be involved in whether jobseeker payments would be increased for all Australians – not just the over 55s, as has been reported.
Asked on Sky News if there would be an increase across the board, Dr Chalmers said Tuesday’s budget would be “a responsible budget for struggling Australians”.
“And central to that, the centerpiece of the budget will likely be a cost package that is broader than has been speculated on, that prioritizes the most vulnerable and applies to more than one age cohort,” he said.
“We’ve already announced cheaper medicines, cheaper early childhood education, help with utility bills, and there will be other elements associated with it as well.”
He has also given hope to single parents, pointing out that single parents could receive payments until their youngest child is 12 or 13 years old – well from the current age of eight.
“If there is an opportunity to do better there, we will do it,” he told Channel 7.
Financing of the broad cost of living package will be made possible by increasing taxes on the oil and gas industry; the tobacco industry; and changes in the pension system.