Even with the referendum campaign and conflicts in the Middle East and Europe dominating the headlines, the Albanese Government has maintained its primary focus on bread‑and‑butter issues affecting Australians.
We know cost‑of‑living pressures are hurting many households and, more importantly, we're acting to make things a little easier.
That's why our highest priority is rolling out billions of dollars in targeted cost‑of‑living relief that is easing the pressure on everyday essentials for middle Australia.
We have a ten‑point plan delivering around $23 billion of support that's targeted to where it's needed most.
Electricity bill rebates of up to $500 are being provided to around five million households to take some of the sting out of power bill increases.
We've made childcare cheaper for 1.2 million households, saving around $1,700 a year for a family on $120,000 with one child in care.
Recipients on the maximum rate of Commonwealth Rent Assistance last month received the biggest bump in the payment in 30 years.
At the same time, we also lifted the rate for those on working age payments by $40 a fortnight, in addition to the regular indexation, and provided more support for parents.
Australians have saved over $180 million on 16 million prescriptions after the maximum co‑payment was reduced to $30, down from $42.50, while the cost of many medicines for chronic conditions has halved with 60‑day prescriptions.
We are also tripling bulk billing incentives from next month to support 11.6 million eligible Australians, including children, pensioners and other concession cardholders, to access a GP with no out‑of‑pocket costs.
We are building and supporting the supply of more affordable homes through policies including the $10 billion Housing Australia Future Fund, the $3 billion New Homes Bonus and the $2 billion Social Housing Accelerator.
Meanwhile, we've abolished fees for TAFE and vocational education and training for tens of thousands of students around the country, which is critical to building Australia's future workforce.
We are also expanding paid parental leave to 26 weeks by 2026, a change that's good for families and good for the economy.
And recognising the best defence against cost‑of‑living pressures is a good income, the Albanese Government has been focused on getting wages moving again - with wages now rising at around their fastest pace in a decade.
This ten‑point plan is focused on the areas where the price pressures are most acute and where we can make the most difference.
The Treasury estimated in the most recent Budget that without our cost‑of‑living policies inflation would be ¾ of a percentage point higher in 2023‑24.
In particular, our energy bill relief has taken the edge off price increases. While electricity prices rose 4.7 per cent over July and August, Australian Bureau of Statistics estimates the increase would have been 19.7 per cent without the rebates we're rolling out with the states and territories.
So our policies are making a meaningful difference to households in suburbs and regions around the country.
But Australians understand we can't snap our figures to make the inflation challenge disappear overnight - no government can.
Before the Albanese Government came to office in May last year inflation had already started to take off, interest rates were on the rise, and the war in Ukraine was causing turmoil on international energy markets.
Recent tensions in the Middle East have added to the uncertainty on global oil markets, with supply constraints from overseas causing higher fuel prices here at home.
The global situation is one of the reasons why inflation isn't moderating as fast as we'd like, but it is moderating overall over time.
Disappointingly Peter Dutton and the Coalition have stood in the way of our cost‑of‑living measures at every turn.
They voted for higher energy bills for millions of households and small businesses, they voted for more expensive housing, and they even threatened to vote for more expensive medicines.
Despite the LNP's nasty negativity, the Albanese Government is getting on with the job of delivering its responsible and targeted cost‑of‑living relief.
We've achieved this at the same time as delivering the first surplus in 15 years - a dramatic $100 billion turnaround from the forecast deficit we inherited from the Liberals.
Meanwhile, we have overseen the creation of more than 550,000 jobs in our economy, which is a record for a new government. And our new Employment White Paper sets out our strategy to ensure more Australians can benefit from more jobs and opportunities in our economy.
The Albanese Government's economic strategy and our ten‑point cost‑of‑living plan has been our highest priority throughout. It's all about steering the economy through these difficult times, staring down the inflation challenge and delivering the better future Australians deserve.
