Australians at absolute ‘breaking point’ amid cost of living crisis
Managing Director at PR Counsel Kristy McSweeney says Australians are at “absolute breaking point” amid the cost of living crisis.
Ms McSweeney’s remarks come as a study by economic consultancy Polis Partners revealed that households on average have $10,700 less per year to spend on non-essentials like eating out, holidays, furniture and electronics, gym memberships and savings compared with 2020.
The report also revealing those with a mortgage are the hardest hit with approximately $21,300 less per annum to spend on non-essential spending compared with 2020.
“People are at absolute breaking point, they don’t know what to do and they’re not only foregoing luxuries as we often hear about,” Ms McSweeney told Sky News host Chris Kenny.
“But people are now forgoing household essentials, they are foregoing feeding their kids, they are foregoing educational resources for their children.
“It is really at that second tier of things people just have to miss out on now which is so damaging to families out there who are doing nothing but working hard and trusting that the government is going to help them out at some point by having a cohesive economic strategy to get the country back on track.”
Credit to : Sky News Australia