Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

First of all, I make the point that those sorts of claims and pricing decisions will be subject to scrutiny from the ACCC. That is my first point, and secondly, if the claims that the member has made are anything like the claims that have been made by those opposite then the fact is that they will not have a lot of truth about them. The fact is that there will be an impact on the price level overall, 0.7 per cent on average, less than 1c in the dollar. It is true the increases in electricity prices will be bigger than that. We have said they will be around 10 per cent, and that is precisely what the modelling has found.

We said that what we would do would be to put in place assistance for households to deal with the price increases and also assistance for industry. We are providing something like $15 billion of household assistance over four years. That is $15 billion worth of assistance into the pockets of consumers. In addition to that, particularly for small business, we have starting on 1 July the $6,500 instant asset write-off which will support up to—

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