Australia Scraps Electricity Rebates as Budget Deteriorates

Australia will not extend cost-of-living relief to households in the form of electricity rebates, Treasurer Jim Chalmers said, as the government looks to rein in spending in the face of large, structural budget deficits.

“This wasn’t an easy decision, but it’s the right decision,” Chalmers told reporters in Canberra on Monday, adding the measure has so far cost the budget almost A$7 billion ($4.65 billion). “This was a difficult call that we made as a Cabinet, but it’s the right call.”