A surprise revenue gain is giving Labor more options to help households in the federal budget to be delivered on March 25, creating room for a new round of energy bill relief before an election that will be held in May.

Prime Minister Anthony Albanese has confirmed the budget date and election plan after top cabinet ministers signed off on major policies, intensifying a contest on economic policy with Opposition Leader Peter Dutton.

Labor sets up energy bill relief in March budget for May election
By David Crowe, Shane Wright and Paul Sakkal

Albanese and senior colleagues decided on Friday to confirm the government’s stated plan to release the budget on March 25 and head to the election in the first weeks of May, after Cyclone Alfred ruled out the option of an earlier election.

The prime minister went public with the plan on the 7.30 program on the ABC on Friday night when host Sarah Ferguson asked him if he was “categorically” ruling out calling the election on Sunday or Monday.

“That’s correct,” he said. “I have no intention of doing anything that distracts from what we need to do, and what we need to do is look after each other at this difficult time. This is not a time for looking at politics.”

Federal cabinet’s expenditure review committee has completed most of its work on the budget policies, which have been subjected to full Treasury costings, so Treasurer Jim Chalmers and Finance Minister Katy Gallagher have authority to finalise the measures with Albanese.

Independent economist Chris Richardson has estimated the revenue gains will be worth $24.3 billion over two years, but this is strongly disputed within the government because Treasury has a more cautious outlook and is yet to adjust its forecasts.

The federal energy subsidy – which gave every household $300 for electricity bills over this financial year – is a key issue for the campaign because millions of voters would receive a final $75 payment at the end of June if the government does not extend the $3.5 billion package.

The cabinet decisions clear the way for another round of assistance, but the government is yet to decide whether the energy package will be the centrepiece of the budget or held for an announcement during the election campaign.

Chalmers has named the energy bill relief as a major reason for voters to reject the Coalition at the ballot box, given the Liberals and Nationals voted against it when parliament approved the package.

The moves follow a flurry of Labor measures since the start of the year, including an $8.5 billion boost to bulk-billing through Medicare, the funding of 50 urgent-care clinics to ease pressure on hospitals, more than $7 billion for public schools and decisions to fund major roads.

Dutton has cited the spending as a reason for voters to throw Labor out of office, saying the Coalition would cut government waste and improve the budget bottom line.

An election in May could be costly for Labor, as television and radio advertising has been booked and some staff have paid for four weeks of accommodation around the Sydney office where the party’s election headquarters are based.

Media advertising buyers who book slots for Labor are actively talking about changing the dates of Labor’s advertising bookings as a contingency if the election is in May rather than April, according to advertising industry and political sources.

READ MORE:

https://www.smh.com.au/politics/federal/labor-sets-up-energy-bill-relief-in-march-budget-for-may-election.html

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