Australians burdened with student debt will have 20 percent of their loans wiped as part of Labor’s pre-election pitch aimed at easing cost of living pressures for young people. It’s part of a half-a-billion-dollar package which the coalition is labelling a ‘cash splash’ in place of real reform.
Category
📺
TVTranscript
00:00It's beginning to look a lot like an election campaign.
00:07Big energy and big promises.
00:11Prime Minister Anthony Albanese addressing the party faithful in Adelaide with a US style
00:16stump speech.
00:17We're so determined to win the election next year.
00:22Vowing to expand and legislate access to fee free TAFE for Australians and wipe billions
00:28of dollars in unpaid student loans if returned to power.
00:32A re-elected Labor government will take 20% off student debt for everyone who has one.
00:42Under the pitch, a university graduate with the average debt of about $27,000 would see
00:48more than $5,000 wiped from their outstanding loan.
00:52It builds on yesterday's promise to lift the income threshold from when people have to
00:57start paying off their debt from $54,000 to $67,000.
01:02All up the government's promising to cut close to $20 billion in student loan debt for more
01:09than 3 million Australians.
01:11I think that's great to hear.
01:13It's certainly not enough.
01:14I probably would go back if I knew that they were going to do that.
01:18The move will cost the budget half a billion dollars but the government argues it will
01:22address intergenerational inequity without driving up inflation.
01:27After a turbulent week with claims the Prime Minister received free flight upgrades from
01:31Qantas, the government wants to regain control of the agenda using this announcement to try
01:37to shift the focus back to cost of living issues.
01:40But that's proving difficult.
01:42With revelations the Education Minister solicited and received the flight benefit in 2019.
01:48Politicians touching down in Canberra ahead of Parliament's return.
01:53Just looking forward to a good week.
01:55Labor's focused on building Australia's future.
01:57Presumably flying economy.