After two years of high interest rates, along with skyrocketing energy bills and grocery prices, the people in Central Queensland are at breaking point.
Australians are paying 20% more personal income tax, real wages have gone backwards, and living standards have collapsed by nearly 8%. But despite the cost of living being the number one issue for the residents in Central Queensland, Labor's broken promises and failed policies have done nothing to ease the hip pocket pain.
Instead, Labor's $315 billion of additional spending has caused interest rates to be higher for longer, putting more pressure on working Australians. Under Labor, interest rates have been increased 12 times, but inflation continues to rise.
The Reserve Bank of Australia even told the Cost of Living Committee that it is looking for 'softer growth' in Government spending before it could cut interest rates, but instead, it had to almost double its forecasts for government spending since Labor's last Budget.
The Coalition has a plan to get Central Queensland back on track. That is why we voted to establish the Select Committee on the Cost of Living to inquire into and report on the causes of cost of living pressures, how they are impacting Australians and develop sensible solutions to address this crisis.
The Committee has already made recommendations for sensible policies that will get the cost of living down by addressing key pressure points like housing, grocery prices, energy bills, and supporting the charities sector.
Now, the Committee wants to hear from you. You can share their story by making a submission, which can be accessed by visiting yourcostofliving.au.
Member for Flynn, Colin Boyce said he could see how the cost of living crisis was impacting the residents in Central Queensland.
"Under Labor, the cost of living has skyrocketed, and instead of coming up with a plan to address it, their policies are making it worse," Mr Boyce said.
"The only cost of living relief that helps all Australians is to get inflation down. But inflation is staying higher for longer under Labor, and there is no relief in sight."
"The Cost of Living Committee's recommendations are part of our plan to get Australia back on track, which is what the people in my electorate need now, more than ever."
