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Highlights
- Dutton promises a 50% reduction in fuel excise to alleviate cost-of-living.
- Introduces legislation aimed at reducing energy costs and strengthening the economy.
- Plans to curb permanent migration by 25% to improve housing affordability.
In a significant pre-election speech, Peter Dutton has outlined his vision for Australia's economic future, highlighting a series of measures designed to reduce living costs and bolster national security. The leader of the Coalition committed to a gas reservation policy that could secure an additional 10-20% of the east coast's gas supply, aiming to address energy shortages and lower electricity bills.
In a move to directly impact Australians' wallets, Dutton announced a plan to cut the fuel excise in half for one year, from 50.8 cents per litre to 25.4 cents. This adjustment is projected to save households with one car approximately $700 annually and those with two cars around $1,500. To ensure these savings are passed on to consumers, the Australian Competition and Consumer Commission (ACCC) will oversee the implementation.
Contrasting with the Labor government's recent tax cuts, which are set to provide modest relief of up to $536 per taxpayer over two years, Dutton criticized these measures as inadequate in the face of rising living costs. He argued that the Coalition's approach would offer more immediate financial relief and accused the current government of economic mismanagement, citing significant increases in the costs of housing, groceries, and utilities.
Further, Dutton's plan includes a proposal to reduce the permanent migration cap by 25%, which he claims will alleviate housing market pressures and help restore the "great Australian dream" of home ownership. Additionally, he proposed a temporary ban on home purchases by foreign investors and temporary residents to stabilize the housing market.
If elected, Dutton promised swift legislative action, introducing bills aimed at reducing energy prices, limiting immigration, enhancing public safety, and securing funding for essential services on the very first sitting day of Parliament.
As the country approaches the election, set for May 3, these policy commitments from Dutton are positioning the Coalition as a government ready to take decisive action to address the economic challenges facing Australians today. This stance sets the stage for a pivotal electoral showdown, emphasizing stark contrasts in economic strategies between the Coalition and the Labor government.
