Labor’s First Budget Is Coming — Will It Improve Your Family’s Life?

At the moment, it might be hard to argue with your child when they want an ice cream for dinner. After all, a Maxibon or a Paddle Pop is currently less expensive than serving them up some raw lettuce.

So, is the Labor government’s next budget going to make it make financial sense to give your kid vegetables? Are they actually going to help you through this cost of living crisis? Here’s what we know so far:

Anthony Albanese Is Focused on Wage Growth

In an interview, our Prime Minister, Anthony Albanese, told The Australian that he won’t be raising our taxes. Moreover, he said that he was going to focus on growing all of our salaries by continuing to fight for a strong minimum wage and secure work conditions for all.

However, Albanese didn’t promise us a silver wage growth bullet, stating that it could be a hot minute before some positive changes will hit our bank accounts. He stated, “We want to see people’s living standards increase and that’s what historically has happened over a long period of time, over many decades, until the last decade when we saw a conscious decision to reduce real wages from the government at the same time when some people were doing very well.”

So, unless some better farming conditions come along or Russia stops committing war crimes, the price of our food might continue to be too expensive for a while to come.

Related: Here’s What a New Minimum Wage Could Mean For You

Related: Australian Federal Budget 2022: A Breakdown of What It Means for You

Jim Chalmers is Making Us a Wellbeing Budget

Our Federal Treasurer, Jim Chalmers, is shaking things up. This is because he’s promising all of us a different sort of a budget, a wellbeing budget. But what exactly is a wellbeing budget? Well, according to The Conversation, New Zealand has one. Theirs focuses on creating a low-emissions economy, making economic opportunities, lifting up Maori and Pacific peoples, reducing child poverty, and improving mental health. So it’s probable that our wellbeing budget will follow a similar sort of trajectory.

But such a budget would be good for every Aussie fam. If we’re less reliant on super expensive fossil fuels like petrol, then our own personal budgets would be better. If the government is creating economic opportunities, then we might be the recipients of such opportunities. Furthermore, supporting our First Nations peoples, reducing child poverty, and improving everyone’s mental health will create more prosperity for this country. Making such changes is legit a righteous move.

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