Prime Minister pledges fast-tracked cost of living relief

There is rising anger at the government over the cost of living crisis, but the Prime Minister is set to unveil his plan to tackle it.

Anthony Albanese is now pledging to unveil new cost of living relief in “coming days” amid rising voter anger that the government is failing to act.

The Prime Minister and NSW Premier Chris Minns will unveil a $206m package on Tuesday to offer more social housing properties and energy-saving upgrades to lower power bills.

The scheme will offer upgrades such as heat-pump hot water systems, ceiling fans, reverse-cycle air conditioners, solar systems, insulation and draught proofing and is designed to save some families up to $600 a year.

Speaking on Radio 2SM this morning, the Prime Minister did not elaborate when asked about the announcement.

“I believe there’s going to be an announcement today about relief on power bills for some 30,000 households. Can you elaborate?” the Prime Minister was asked.

“No,’’ Mr Albanese replied. “We will have further announcements over the coming days. And we have a course this week as well.”

The Prime Minister, Anthony Albanese. Picture: NCA NewsWire / Nicki Connolly

But in a statement released prior to the interview, Mr Albanese’s office said that 10,000 households will be able to access the “solar banks” program, which the government estimates could shave up to $600 a year off power bills.

“Saving energy means saving money, which is why we’re continuing to deliver cost of living relief for families that need it most without adding to inflation,” Mr Albanese said in the statement.

“We want all Australians to have access to cleaner, cheaper energy. Renewable energy for social housing helps power bills and is good for the environment.”

He flagged the option of fast-tracking cost of living relief to voters before the May federal budget, on Monday as Labor faces a crucial by-election test in Melbourne.

He also defended the $20-billion-a-year stage three personal income tax cuts insisting the tax relief would benefit people earning as little as $45,000.

“The Treasurer has always said that returning bracket creep is a worthy aspiration if it’s done in an affordable and responsible way,’’ the Prime Minister said.

“The government will continue to look at the range of measures that are available at our disposal in the lead-up to the May budget and continue to do things, perhaps as we have done – we’ve been prepared to take action in between budgets as well.

Cost of living measures could be fast-tracked by the government. Picture: NCA NewsWire /Brendan Beckett

“Because we understand that people are doing it really tough out there.”

Mr Albanese also met on Monday with Craig Emerson, a former Labor minister who is leading a review into the supermarkets.

“I met with Dr. Craig Emerson yesterday, who’s having the review about food and grocery prices. We have the ACCC chair looking at what further monitoring may be necessary,” he said.

“The ACCC is having an ongoing look at it. And the head of the ACCC is carefully looking at potential litigation and is saying in a very clear warning that that option is open.

“What we’ve said is that we will do whatever is necessary including looking at changing the voluntary code of conduct, looking at mandating in order to provide support for people.”