Prime Minister Anthony Albanese warns of big issue in upcoming budget

As Australians continue to struggle with the rising cost of living, the Prime Minister says some “difficult decisions” are coming.

Anthony Albanese has made a grim prediction ahead of next month’s budget, warning there would need to be some “difficult decisions” made.

The Prime Minister made the remarks will addressing his team during a meeting of the Labor caucus on Tuesday.

“We will soon be preparing our first budget and we need to address the cost-of-living issues Australians are facing while being mindful of a trillion dollars of debt we inherited,” Mr Albanese told caucus, according to a government spokesman.

Mr Albanese said legislation to ease cost of living pressures was coming. . Picture: NCA NewsWire / Gary Ramage

Mr Albanese has long-argued the need for the temporary halving of the fuel excise and pandemic leave payments to end, citing budgetary pressure.

His comments to MPs indicate Australians should expect the government will not extend the schemes in the budget, to be handed down October 25.

Earlier on Tuesday, he told reporters legislation to ease the cost of living pain would be introduced in the coming weeks.

“We understand the pressures that people are under, and we wanted to undertake measures that alleviate cost of living pressures,” Mr Albanese said.

Peter Dutton has warned of tough times ahead. Picture: NCA NewsWire / Gary Ramage

Meanwhile, Opposition Leader Peter Dutton, who was meeting with his own team on Tuesday morning, warned the government’s “honeymoon period” would end with “tough times”

He told the Coalition party room meeting on Monday the government would be judged on how they responded to “what matters most to most Australians”.

Nationals leader David Littleproud said there would be “no silver bullet” for dealing with the economic challenges facing Australia.

It came after a new data from Suicide Prevention Australia found the state of the economy is the number one driver of distress throughout the country.

The cost of living and personal debt are causing elevated distress (beyond normal levels) for 40 per cent of Australians when compared with this time last year.

Women are more distressed than men over the rising cost of living.

Women (44 per cent) also felt more distressed over cost of living and personal debt when compared with men (36 per cent).

But cost of living and personal debt were not just an immediate mental health issue, with the survey also finding that Australians expect it will be the most significant suicide risk by this time next year.

Nearly 70 per cent of Australians thought it would pose a major risk to suicide rates, up from 59 and 57 per cent in 2020 and 2021 respectively.

The issue was more of a concern for women (72 per cent) than men (64 per cent), while South Australians (72 per cent) were more affected once again.

Mr Albanese said addressing Australia’s suicide rate was a “personal priority” for his prime ministership.

“We cannot allow this ongoing stain on our national conscience. We need to do better,” he said.

“It is of course a personal priority for me, not only in my capacity as prime minister, but just as a fellow member of the human race.”

Originally published as Prime Minister Anthony Albanese warns of big issue in upcoming budget