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Reuters
Reuters
Business

Australian govt pledges $10 billion in budget to ease cost of living

FILE PHOTO: Shoppers carry their purchases across a street in Sydney's central shopping district, March 15, 2017. REUTERS/Jason Reed

Australia's centre-left Labor government said on Monday it would include A$14.6 billion ($9.84 billion) over four years in the federal budget for cost of living relief for families and businesses, which it promised would not stoke inflation.

The plan is designed to directly ease price pressures and inflation, the federal government said, which has eased in the first quarter but still sits near 30-year highs of 7.0%.

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