Canberra and the states have agreed to cap coal and gas prices, and provide additional rebates for Australians on low and middle incomes, as part of a $1.5bn intervention that will shave hundreds of dollars off power bills.
The rebates will be applied directly to power bills, rather than cash handouts. People on income support, pensioners, holders of a seniors health card, recipients of the family tax benefit and small businesses will be eligible for the relief, with the states to match the commonwealth contribution dollar for dollar.
In a press conference from his Sydney residence, Anthony Albanese said the package finalised by national cabinet was necessary given “extraordinary times”. Albanese – who is isolating after contracting Covid-19 – told reporters Friday’s actions were unusual, but necessary, given the crippling impact of high power prices on households and businesses.
Just making the taxpayer pay twice and also only a short term fix but strange don’t see any criticism from MSM
Hmm great deal we only have to suffer a 23% increase next year 😕
A good start - cop that SJM Gus the Goose .
Hmmm, I wonder if this will have any effect on inflation?
It’s such a shame that we don’t have any natural resources under our feet that we could use 🙄
Blah blah AlboMP you’ve shown yourself to be a non-performer FreeJulianAssange
Oh here we go, the proven road to societal collapse of when government envokes the socialist strategy of price fixing. The 'fixed price' cost of supply to meet demand makes supplying that demand impossible to maintain and bankrupts suppliers into producing nothing. Venezuela!
Well that’s a surprise😳 The gas lobby, the Australian Petroleum Production & Exploration Association (APPEA) went on the offensive, warning the temporary price cap of $12 a gigajoule on gas would “kill investment confidence and reduce future supply”.
This article doesn't mention the billions that are going to be given to fossil fuel folk as 'compensation' for capping coal prices
Q. So where does the bill relief money come from? A. Taxpayers. Q. Where does it go? A. Mostly taxpayers. Q. Is this efficient? A. Of course not. But politically brilliant.
It's no wonder why Labor get labelled as bad managers of the economy which ultimately results in high debt. They fail to respect even the most basic market principles of supply and demand. Even worse they are now trying to manipulate the market. A big no-no🤐