Cutting the Cost of Living for families and individuals by taking action to reduce energy costs and cut taxes
We are taking action to lower prices.
Our plan for affordable, reliable power includes a price safety net to protect customers; a big stick to stop energy company rip-offs of customers, and a technology-neutral program to underwrite new reliable energy generation.
This builds on previous measures to lower energy costs, including requiring power companies to provide better deals; securing priority gas supply for Australia; and putting downward pressure on network costs (which are passed on to customers) by stopping the energy networks from gaming the system.
Our plan for affordable, reliable power is already getting results.
AGL, Energy Australia, Origin, Alinta and other retailers have cut prices for customers on standing offers by up to 15%. This means half a million families and small businesses will benefit from lower power prices from 1 January.
On average, savings for residential customers in Victoria are $313.
In 2018-19, around 4.4 million Australians will get tax relief of $530 per year and over 10 million taxpayers will get some tax relief.
We’re making income taxes lower, fairer and simpler. By the time our tax relief plan is fully implemented, 94% of taxpayers will pay no more than 32.5 cents in the dollar.
Tax relief has been delivered for 3.3 million small and medium businesses employing around 7 million Australians.