00:00Australians are crunching the numbers.
00:05$1,600. With everything else that's gone up, that would represent the increase in one insurance bill.
00:13So it's going to have minimal impact on me.
00:16Like a few grand, that's nothing to turn your nose up at.
00:19It'll be one quarter of our electricity bill and that's it.
00:24From tomorrow, more than 13 million Australians will get a tax cut.
00:29Workers receiving the median wage will get roughly $1,300 extra back over the year.
00:35And for the average full-time worker, they'll pocket around $2,000.
00:40This is all about ensuring that Australians earn more and keep more of what they earn.
00:46But many aren't convinced as they attempt to scrimp and save.
00:50But I don't know that it's going to help us that much.
00:52I'm very sceptical. I honestly doubt that it's anything more than a gesture than an answer to any of our problems.
01:00Rising inflation being a major one for the Federal Government.
01:04But the Treasurer maintains his suite of cost of living measures will drive it down.
01:09Also beginning July 1, every household will receive $300 off their energy bills,
01:16a freeze on PBS medicines and a 10% increase to Commonwealth rent assistance.
01:22While Australia's lowest paid workers will see minimum wage increase to just over $24 an hour.
01:29The cost of living measures come as little comfort to many as the prospect of another interest rate rise looms.
01:35Some economists are even predicting a second hike before they come down.
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