Prime Minister Anthony Albanese has declared that Australia has weathered the 'global storm' of high inflation, expressing optimism that the worst economic pressures are behind the nation. Speaking at a campaign rally in Adelaide, he praised the Labor government's economic management for bringing inflation down to its lowest level in nearly four years, while acknowledging the difficulties faced by workers, families and small businesses.
In a bid to reset the political narrative ahead of the election due by May 2025, Albanese announced a series of new measures, including making free TAFE places permanent. He pledged to legislate 100,000 fee-free TAFE places each year from 2027, building on earlier commitments. The prime minister also promised to cut all student debts by 20 per cent and raise the income threshold for repayments, with the debt cut taking effect from 1 June 2025 if Labor wins a second term.
Albanese argued these policies would 'put money back into your pocket' and address intergenerational equity. He emphasised the importance of investing in education and training to secure a new wave of jobs and prosperity. The announcements come as Labor trails slightly in the polls, with rising housing costs and negative stories about Albanese's perks of office weighing on his popularity.
Shadow foreign minister Simon Birmingham questioned the funding for the $16 billion student debt reduction plan, calling it a 'cash splash' rather than real reform. Despite the criticism, Albanese remained confident, stating he was 'determined to win the next election' to help Australians with cost of living pressures, build more homes, lower energy prices and improve Medicare.
