Posted on: 22 March 2024
South Australian families are having to find an extra $424 a week – or $22,068 a year – as the cost of living crisis continues to escalate under Labor.
The Opposition has analysed the expenses of a typical South Australian family – consisting of two parents who work full-time and two school aged children – comparing the current prices of essentials like housing, food, and utilities with those from March 2022.
The severe hip pocket pain being felt by South Australian families is having a flow on effect to struggling small businesses, like St Morris restaurant Rusco & Brusco whose owner reports his trade has been cut in half.
In addition to customers tightening their belts, South Australian small businesses are also suffering under some of the highest electricity bills in the country.
With average energy bills soaring by 20 – 30 per cent over the past two years, advocates are calling on the Malinauskas Labor Government to provide urgent support for small businesses, as existing rebate schemes are having “little impact”.
Leader of the Opposition, David Speirs, said after two years of Labor South Australians deserve better.
“Peter Malinauskas and Labor are failing South Australians when it comes to cost of living relief,” Mr Speirs said.
“Household bills are skyrocketing, mortgages and rents continue to go up, and small businesses are weighing up whether it’s worth the stress and financial pressure of keeping the doors open.
“We simply can’t stand by and watch as small business after small business shut their doors because the cost of living crisis is killing them off.
“Peter Malinauskas needs to come up with a plan to support hardworking South Australian families and small businesses who are suffering under cost of living pressures because right now many are losing hope.”
Shadow Treasurer, Matt Cowdrey, said under Labor the dream of running a successful small business is slipping away for many South Australians.
“Hardworking South Australian families are having to find an extra $22,000 a year under Labor, which means households are being forced to make some tough decisions to make ends meet,” Mr Cowdrey said.
“The cost of living crisis means many are sacrificing a meal out – which has an economic ripple effect that’s being felt across South Australia’s small business sector.
“Small businesses are crying out for help as they continue to pay some of the highest electricity prices in the country. Peter Malinauskas must come up with a plan to support them to survive these turbulent times.”
The Opposition’s new calculations relate to an average family of four including two children aged eight and 12 who attend a public school. Parents work full-time and earn an average weekly salary, sharing the cost of a mortgage of $500,000.
The family has private health insurance, two cars, RAA memberships, streaming services, internet, and three mobile devices. They also have summer and winter sports club memberships and travel domestically once a year.