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‘Rates of Excess Inflation and the Cost of living in Australia must be Lowered’
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‘Rates of Excess Inflation and the Cost of living in Australia must be Lowered’
INTRODUCTION
Let's begin
- Cost of living: the level of prices relating to a range of everyday items.
- Increases rates of homelessness.
- Increases rates of mental health issues.
- Increases crime rates.
Increasing the rate of cost of living every year:
#1
Increases rates of homelessness
- Housing in Australia is one of the world's most expensive housing as claimed by the International Monetary Funds Global Housing Watch Survey. Due to the increase in housing prices rates of homelessness is staggering.
In 2016 more than 116,000 people were estimated to be homeless in Australia, 58% of them were male, 21% of them aged 24-35 and 20% identified as Indigenous and Torres Strait Islander Australians, all due to the shortage of affordable housing.
#2
Increases rates of mental health issues
Can arise due to:
- Unemployment through the stress of not being able to support their life.
- Debts from not being able to pay the increased bills etc.
What does the other side say: Yes many people believe that the quality and standard of live here in Australia is much better than that of other countries, and to some extent i do agree because of things such as free healthcare and government incentives such as Centrelink, however this isn’t an excuse for the cost of living rates to keep increasing at it’s current pace, it is a very holistic and an exclusive claim that disregards the lower socioeconomic status and Indigenous Australian population.
#3
Increases crime rates
- Increase in living cost reduces the purchasing power. Hence, crime rate may increase when an individual is unable to maintain their standard of living as before. Crime offers a way in which impoverished people can obtain material goods that they cannot attain through legitimate means. Often threat or force can help them acquire even more goods, this induces them to commit violent acts such as robbery, which is the second most common violent crime. For many impoverished people, the prize that crime yields may outweigh the risk of being caught, especially given that their opportunity cost is lower than that of a wealthier person. Thus, high living cost could increase crime rates.