Aussies unleash Anthony Albanese on their Christmas nightmare: the terrible words the Prime Minister doesn’t want to hear

An Australian mother has spoken out about how her family is struggling with the rising cost of living, despite the Reserve Bank boss insisting households and businesses are in ‘pretty good shape’.

The comments coincide with research released on Friday which found 14 million Australians will significantly downsize their Christmas meal, with 5.3 million of them unable to afford a Christmas meal.

The poll, conducted by PureProfile on behalf of The Salvation Army, interviewed 2,005 people and found that around one in 10 Australians will rely on charity support over the festive period.

The survey also found that 57.7 percent will spend less on food at Christmas, 47.4 percent will buy fewer gifts and 41.9 percent will decline invitations to social events.

‘In this happy country, too many people are without food, medicine and utilities. Many more people don’t even have a place to live,” said Major Brendan Nottle of the Salvation Army.

‘Behind every statistic is a real person; many are desperately struggling to make ends meet and making painful decisions about what to do without… Never before have we seen a time when the gap between rich and poor has been so wide.”

But struggling Aussies hoping for a Christmas gift in income support from the Albanian government will find their stockings empty – despite an update from the Treasury this week showing a huge tax hike has boosted the budget bottom line.

The Prime Minister was accused in a recent focus group study of not doing enough to cope with the cost of living, with one participant giving the Prime Minister a piece of his mind by calling him a ‘beta male’.

“I just don’t see much action on cost-of-living pressures. He is missing,” said a participant in the RedBridge survey conducted for Newscorp last month.

“He hasn’t really been concerned with the cost of living,” another agreed.

“There are global factors at play, but I don’t think he has taken much concrete action on them.”

Labor Treasurer Jim Chalmers published the Mid-Year Economic and Fiscal Outlook on Wednesday and resisted the urge to play Santa Claus, saying further support measures would add to inflation.

“We will consider budget conditions and economic conditions between now and the May budget to see whether we will provide more cost-of-living assistance,” he said.

An example of the situation households are going through was posted on a Facebook group in Adelaide this week, where a young mother said she was “fed up” having to pay for basic expenses, despite having a university job and a husband who made decent money working in an exchange.

“I’m so tired of the cost of living, and I don’t want to be in this endless cycle of living week to week and not enjoying life, or is that what the government wants and needs,” she said.

“Seriously, I have a job that requires a degree, my husband has a job that requires a trade, and honestly, we still can’t get ahead of the curve or make it.

‘I feel depressed about Christmas and the school holidays because I can’t afford it the way I want to.

The woman complained that mortgage payments were one of the major expenses crippling her finances after the Reserve Bank hiked cash rates in 13 of its last 18 monthly meetings.

“I just can’t make ends meet.”

Interest rates now stand at 4.35 percent, up from 0.01 percent at the start of 2020, leaving millions of Australians in mortgage stress.

According to the Australian National University’s Australian Tax and Social Security Model, almost half of all home loan borrowers, 48.5 percent, meet the mortgage stress test of paying a third of their disposable income to make minimum mortgage repayments.

The mother asked the Adelaide Facebook group if selling her house would be a way forward.

“The only way we can stay ahead is to sell our house and pocket or invest the money.”

“We can’t refinance because we have bad credit at the moment because of the problems and occasional late payments. Our families are not supportive.”

“Seriously, how are people’s finances going these days? I just can’t make ends meet.’

RBA Governor Michele Bullock recently told an overseas conference that frustrations over rate hikes were “noise.”

Ms Bullock, who earns more than $1 million a year, was speaking in Hong Kong at a meeting of central bank governors, attended by her predecessor Philip Lowe.

“We, like other countries, have been raising interest rates much faster than in the past, and that has actually created a lot of political noise and a lot of public noise,” Ms. Bullock said at the conference. .

“Despite that noise, households and businesses in Australia are actually in a pretty good position. Their balance sheets are quite good.”

Ms Bullock said households had built up “large savings buffers” due to the Covid pandemic, which had remained “largely intact”.

“Housing prices are rising again, to everyone’s surprise, so that’s helping people feel a little richer,” Ms Bullock added.

The average house price in Sydney has risen 12.1 per cent since January to an even more unaffordable $1.397 million, CoreLogic data shows. This discourages young people from entering the real estate market as population growth soars.

Members of the group who responded begged the woman not to sell her home.

‘Don’t sell your house. You will regret it,” said one.

‘Unfortunately I don’t have the answers, but could you consider hiring a financial advisor to look at your income and expenses and work out a plan?’

‘Everyone is in the same boat. Please call the bank and tell them about your problems. They lowered my rate and agreed on a different rate.

“Also call you an MP, both state and federal. They need to know what the people who voted for them are facing. If you don’t say anything, the government will assume you are doing well.’

“Luckily I don’t have bad credit, but I’m seriously concerned that this could happen soon,” said another.

‘I’ve been so stressed about Christmas and haven’t been shopping. For the first time in six years we haven’t planned a holiday. By the way, we are great with money, groceries and general living costs are increasing every week.”

“What would the sale of the house really yield?” said another.

‘You have some pocket money for a while and then you are back to square one, only in the volatile and insufficient rental housing market.’

Another said she agreed ‘this is how the government seems to want it’ and referred to the situation many Australian households are struggling with as a ‘silent depression’.

Others encouraged the woman and reminded her that there were still plenty of ways she could enjoy the holidays that didn’t cost a fortune.

“The best things in life are free, as long as you have a house, food, health and your family… There are so many things you can do that don’t cost anything,” one person said.

“I think part of the key in that statement is the way you want it… We need to change to match the ebb and flow of life,” said another.

‘Don’t go into debt for instant gratification, find cheap fun things to do with the kids. Bonding moments can include cooking meals together, playing a board game or making sandwiches in the park with our friends. It really helps to remember the good things in life,” a third added.

Earlier this month opinion polls showed Albanese’s popularity in freefall as voters abandoned Labor after an embarrassing series of policy mistakes.

That poll showed the Prime Minister’s approval rating had fallen to the lowest level since Labor came to power 18 months ago.

The government’s vote share fell by four points to 31 percent in just three weeks, while the coalition’s vote rose by one point to 38 percent – the highest support since the May 2022 elections.

On a two-party preferred basis, Labor and the Coalition are tied 50–50 in the poll, which would likely result in Labor losing five seats and its majority if an election were held now.