Labor's cost of living crisis hits Victoria hardest

Media Release

22 November 2023

Australians are only going backwards under this Albanese Government, and Victorians are being hit the hardest of all.

Despite the Prime Minister’s promise that Australians would be better off under Labor, new analysis has shown that Victorians are $1,100 worse off compared to their counterparts in New South Wales. 

This comes at the same time as new analysis of ABS State Accounts data which revealed that in the year to June 2023, Victorians faced the fastest decline in real household disposable income per person, at a rate of 6.5 per cent. 

Chair of the Cost of Living Committee and Liberal Senator for Victoria Jane Hume said that it is going to be a really tough Christmas period for many Victorian families because of Labor’s cost of living crisis.

“We know that mortgage stress is increasing, real wages are going backwards, and the price of everything is going up. Now we have analysis to show just how much the average Victorian is worse off under Labor.

“The Cost of Living Committee has repeatedly heard from charities that they are seeing record demands on their services, now from families with two incomes, and some even with mortgages. At Christmas, those services will be busier than ever and from these numbers we can expect Victorians will see the worst of it.

“We have consistently heard that the best thing the Government can do to help take the burden off these charities and help families is to get inflation down. That is the only way we take pressure off the RBA so they don’t have to keep raising interest rates. 

“Both the state and federal Labor Governments need to own up to the damage they have done to our state. Victorians are clearly worse off under Labor.”