Eslake attributes this income decline to several factors, including slower wage growth, high taxation, and rising interest rates, which particularly impact those with floating mortgage rates.

In response to rising rental pressures, the federal government increased Commonwealth Rent Assistance by 25% between 2023 and 2024, aiming to support one-third of renters.

The Reserve Bank of Australia's delayed response to rising inflation, which peaked at 7.8% by the end of 2022, has significantly contributed to the decline in real disposable income.

Independent economist Saul Eslake highlights that real net disposable income per capita has decreased by 6% during Anthony Albanese's time in office, indicating a troubling trend in financial well-being.

This decline in disposable income has been exacerbated by the end of pandemic-related financial support, with real incomes dropping by over 10% since their peak in mid-2021.

Despite inflation easing, total inflation has risen by about 15% since Albanese took office, while wages have only increased by less than 12%, further straining household finances.

By the end of 2024, the average new mortgage reached a record $666,000, reflecting a $75,000 increase since Albanese's election, while asking rents surged by at least 40% in major cities.

Additionally, household wealth has increased by over $2 trillion, reaching approximately $17 trillion in total, largely driven by rising home values and superannuation holdings.

As the government faces scrutiny, Peter Dutton is expected to question whether Australians are truly better off after Albanese's three-year term in office, which began in May 2022.

On a more positive note, the job market has shown resilience, with over 1.1 million jobs created since Labor took office, marking the largest increase for a first-term administration.

Economist Nicki Hutley suggests that while many Australians are feeling the pinch due to inflation outpacing wage growth, the strength of the job market has helped mitigate some of the negative economic impacts.

In contrast to Australia's declining disposable income, real net disposable income increased by 7% in the United States and 3% in the eurozone and Britain during the same period.