NO RELIEF IN BUDGET WITH SKYROCKETING ELECTRICTY PRICES
As the Albanese Labor Government continues to pursue it’s Climate agenda, electricity costs are skyrocketing and there is no relief in Labor’s first Budget to help households and businesses deal with the dramatic price shock.
Dr Gillespie said many people and local businesses in his electorate and across Australia could not afford the 56% increase in power prices forecast by the Energy Market Regulator over the next year.
“It was disingenuous for Labor to promise before the election to cut household electricity prices by $275 per year when they new of the international pressures and the acceleration their climate policies would have on the domestic electricity market,” Dr Gillespie said.
“With inflation high, household budgets are tight and the difference between profit and loss among our local small businesses who create the majority of our workforce is very tight. The increase in electricity will be enough to cause some to lay off staff or even close. The Budget should have provided relief to respond to this,” Dr Gillespie said.
Dr Gillespie said the Labor/Green/Independent Alliance governing Australia needed to rethink its Climate policies.
“Right now, they are doing everything to fast-track Climate policies that will continue to drive electricity prices even higher, particularly the cost of rewiring the nation to cater for more renewables which will not be enough to provide the energy we need for our economy.”
“Renewables are fine as far forming part of Australia’s energy mix is concerned, but for the security of the nation and in ensuring we have lower electricity prices, we need to make sure a significant part of our energy mix maintains baseload power. That is why I have suggested we need to embrace new small modular nuclear technology which can ultimately replace coal-fired power,” Dr Gillespie said.
Dr Gillespie welcomed the government’s retention of the Local Roads and Community Infrastructure program and some of the regional programs previously announced by the Coalition that have been rebadged.
“The devil is always in the detail but I’m very disappointed Labor has also put an axe to funding for roads, rail and dams in regional and rural communities. Programs cut include the Energy Security and Regional Development Plan, Regional Accelerator Program, Community Development Grants Program and Building Better Regions Fund,” Dr Gillespie said.
“There is no mention of the important Roads of Strategic Importance program. Thankfully, funding was secured and locked in for both $20-million in Federal funding for the Clarence Town Road upgrade and $20-million for The Buckets Way upgrade which are both now underway.
“Unfortunately, we are unclear on whether the fund is available for the extra $15-million we committed to investing in for the Lorne Road upgrade from the March Budget. This is of course in addition to the $5-million in Federal funding already secured, and with Council’s matching $5- million, will make a good start on the sealing work expected to begin mid-next year.”
“A further $4.6 billion has been ripped out of regional and rural water projects.” “Business and Primary Producers have also taken a hit from Labor’s decision to axe the Instant Asset Write-off tax incentive which will be a further impost on their operations. “I still need to get through the Budget papers in ore detail, but I’m hoping that some of the other important initiatives we have introduced an allocated funding towards remain,” he added.