Labor says you’d be $7200 worse off under Dutton. It makes several assumptions

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The Treasury analysis on Saturday suggests the average dual-income household in Victoria would have been $7900 worse off under a Coalition government, and those in NSW would have been $7300 worse off, while households in WA would have forgone $4000.

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The analysis assumes wages would have continued to grow at 2.2 per cent a year under Dutton, compared to 4.9 per cent since Labor came to government, and that Stage 3 tax cuts would have been unchanged under the Coalition.

For a dual income household, the analysis concluded average earnings under the Coalition would have been about $6900 lower, with a further $300 in lost savings attributed to the Albanese’s energy bill relief which was opposed by the Coalition.

The new figures did not include the impact of measures such as cheaper childcare, cheaper medicines and lower HECS debts, instead focusing on the shift in tax cuts and energy subsidies.

A spokesperson for Shadow Treasurer Angus Taylor said Australia remained deep in a cost-of-living crisis, with an Australian with a typical mortgage spending more than $50,000 in additional interest since Labor was elected.

“This is more nonsense from the doctor of spin,” they said. “Core inflation is still well above the Reserve Bank’s target, the economy has come to a grinding halt, productivity is in free fall, GDP per capita has gone backwards for a record seven consecutive quarters and interest rates have risen 12 times since Labor was elected. The Treasurer needs to put less energy into his daily talking points and more into solving the inflation crisis, which any economist will tell you, is far from over.”

Chalmers meanwhile warned Dutton remained the “biggest threat” to household budgets. “Dutton wants to cut $350 billion from the budget and needs to come clean on whether he’s going cut Medicare, housing or pensions,” he said.

On Saturday, Dutton said “interest rates are up 12 times, food, electricity, insurance, all up double digits, and families are really struggling with cost-of-living crisis that Labor’s created through their budget decisions, with no end in sight.

“The Reserve Bank Governor has given advice to the Government about the amount of debt, the amount of spending that’s taking place and of course that hasn’t been heeded.”

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