The Coalition has launched a pre-election cost-of-living attack on the Albanese government, with new figures showing families have $19,000 less disposable income to spend annually than before Labor came to power.
Price rises, elevated mortgage rates and income tax bracket creep have combined to deliver the biggest fall in living standards on record, as measured by real household disposable income per person.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com