“ACT Government Unveils 2024 Budget to Tackle Cost of Living Pressures”

ACT, Australia

In a bid to alleviate cost of living pressures, the ACT Government has announced a comprehensive package in its 2024 Budget to support low-income households. The package includes a one-off $250 payment to local apprentices and trainees, recognizing their financial pressures while obtaining qualifications. Eligible apprentices and trainees will be contacted by the government by September and will not need to apply for the payment. The Future of Education Equity Fund is also set to expand with an additional $1m, supporting students and families in need with educational costs.

Furthermore, over 40,000 low-income households in Canberra will benefit from an increased Electricity, Gas and Water Rebate, rising to $800 per year. When combined with the $300 Federal Government energy payment, one in five Canberra households will receive $1,100 in assistance towards their energy bills. The package also includes expanding the Utilities Hardship Fund, extending the Rent Relief Fund, and expanding public transport concession fares to include Canberrans with a Commonwealth Low-Income Health Care Card. Additional funding is also allocated for emergency material and financial aid programs and food relief services, as well as an increase in assistance through the Taxi Subsidy Scheme and the Life Support Rebate. These initiatives are part of a comprehensive cost of living package developed by the cost-of-living subcommittee.