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Yes, we are worse off – will Dutton or Albanese make it better?
Apr 8, 2025
Patrick Commins, the economics editor for The Guardian, dives into pressing cost-of-living issues facing Australians today. He discusses whether citizens are truly better off than three years ago, tackling the frustrating disconnect between wages and effort. The conversation also explores energy subsidies aimed at helping households, and questions their accessibility for lower-income families. Lastly, Commins highlights the need for bold political reforms to address the housing crisis and tax imbalances that hinder economic progress.
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Quick takeaways
- The pervasive economic dissatisfaction in Australia stems from rising inflation outstripping wage growth, hurting household finances significantly over the past three years.
- Bold economic reforms, particularly in tax policy, are vital to genuinely address cost-of-living issues and alleviate financial burdens on struggling families.
Deep dives
Economic Discontent and the Rhetorical Question
Many households in Australia are struggling financially compared to three years ago, highlighting a pervasive sense of discontent. A powerful political question often posed is whether individuals are better off than they were, to which the common response is no. Rising inflation has outpaced wage growth, leading to increased costs for essentials like mortgages and rent, shrinking purchasing power for most families. This situation represents a broader trend seen globally, where incumbent governments have faced significant losses in recent elections, illustrating the emotional weight of economic dissatisfaction.
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