Today Show host Ally Langdon savages lack of cost of living relief in budget

Today Show host Ally Langdon has spoken out about the latest federal budget saying there is “nothing” in there for one group.

Today Show host Ally Langdon has criticised the latest federal budget for failing to provide cost of living relief to people who are struggling.

On Tuesday night the Albanese Government released it's first budget with a grim outlook for wage growth and energy prices.

Speaking to Australian Council of Trade Unions (ACTU) President Michele O‘Neil, Ms Langdon said everyday Australians have been dealt a tough hand.

“We've been told that wages won't move for at least two years here,” she said on Wednesday.

“Electricity, petrol prices, everything is going up.

“If you’re someone who is struggling today, there is nothing in this for you immediately.”

Today Show host Ally Langdon says “there is nothing in this” budget for people who are struggling. Picture: Today Show

By the end of the year, Treasury estimates retail electricity prices will increase by 20 per cent nationally and that figure will blow out to 30 per cent by 2024.

Retail gas prices are also estimated to increase by up to 20 per cent annually for the next two years.

As for petrol prices, the restoration of the fuel excise has forecasters suggesting that Australians could be paying an additional 40c a litre by next week.

Ms O‘Neil said the budget does help to address some immediate problems but that there is much more to be done.

“There is so much more that needs to be done,” Ms O’Neil said.

“Also this just shows we’ve got to do something that is going to make it different for wages.

“We have had wages flat for a decade and they're going backwards in real terms.”

Petrol prices are expected to soar by up to 40 cents a litre by next week after the restoration of the fuel excise. Picture: NCA NewsWire / Dan Peled

Ms O’Neil said while most workers wages have remained stagnant, there are some who are coming out on top.

“CEO pays have been going up more than 40 per cent the last 12 months and we have seen profits up 28 per cent,” she said.

“It’s workers who aren’t getting a share.”

Treasurer Jim Chalmers appeared on the show later on Wednesday morning to respond to the claims that the budget had done “nothing”.

“I think people do understand when you’ve got inflation which is higher than we would like for longer than we would like, you've got to be careful not to make that problem worse,” Dr Chalmers said.

“We know that it is going to be tough. We know that people are under the pump and we’re providing help where we can.”

Host Karl Stefanovic probed the Treasurer on an election promise to cut electricity bills by $275 by 2025.

“I mean had the coalition promised a $275 cut to those bills and then served this up, you would have them for breakfast, wouldn’t you?” Host Karl Stefanovic asked the Treasurer.

Dr Chalmers refused the criticism and suggested that the Albanese government had inherited the problem from the Coalition government.

“Some of these electricity price rises by the way were happening under our predecessor, they tried to hide it during the election,” he said.

Kochie : “Fudged the figures a bit”

Sunrise host David “Kochie” Koch also weighed in on the budget, telling the Treasurer that he had “fudged the figures a bit” when it comes to the nation’s two biggest exports iron ore and coal.

“You have seriously undervalued the outlook for that,” Mr Koch said.

Kochie calls out the government for underestimating the value of major commodities including coal and iron ore. Picture: Sunrise

“You’ve got coal in at $60 a tonne, it’s currently at $400 a tonne and you’re assuming $55 for iron ore, it’s currently at $91,” Mr Koch said.

“Is that your little slush fund to help us a bit later in the year?”

Dr Chalmers denied the suggestion saying that the government has taken a conservative approach to commodity prices in the volatile economic conditions.

Mr Koch asked the Treasurer when Australians could expect to see some energy price relief.

“That remains to be seen,” Dr Chalmers said.

The budget forecasts that households will be hit with a 56 per cent increase in power bills over the next two years.

“There is no use sugar coating that, it will make things difficult for Australians who are already facing these cost of living pressures.”

“Why can’t you help more?,” Kochie asked.

The Treasurer emphasised the challenging job of providing cost of living relief without putting increased pressure on inflation.

“If you do it in an excessive way, you risk pushing inflation and interest rates up even further and so that’s the challenge that we grapple with as a government,” he said.

Originally published as Today Show host Ally Langdon savages lack of cost of living relief in budget