The budget for 2023 is set to be a game changer for many Australians struggling to keep up with energy costs. Treasurer Jim Chalmers has confirmed that cost of living relief will be the centrepiece of the budget, but that it will be carefully constructed to ensure that it does not simply fuel inflation.
It is expected that millions of households will receive up to $500 in energy relief to help cover the cost of soaring bills. This relief will be tailored to different households depending on their location and needs. This will be especially beneficial for those in regional and remote areas, where energy costs are often higher than in metropolitan areas.
Most of the energy relief will be geared towards elderly pensioners and those with steady incomes, such as welfare recipients. The amount of money offered will vary from state to state, and will be partly decided by the cost of electricity and the amount of money the states are willing to add to the Commonwealth’s contribution.
“Around 5.5 million households and approximately one million small businesses will receive aid to help cover their electricity bills, in order to reduce the financial strain that is caused by the increasing cost of living,” Dr Chalmers told ABC TV.
