Tuesday, 14 November 2023

Adjournment

Debate resumed.

Cost of living

Gaelle BROAD (Northern Victoria) (17:13): (581) My adjournment is to the Premier about the need to increase support services for those struggling with rising living costs. In Victoria the National Debt Helpline received a 47 per cent surge in phone calls in the first half of the year. The rise based on the same period last year is just the tip of the iceberg. Financial Counselling Victoria recently came to Parliament to meet with the Nationals about the service, which supports families and individuals suffering from significant financial distress. Qualified counsellors provide free non-judgemental advice to people struggling with debt who need a plan. They advocate on behalf of their clients to banks and mortgage brokers and connect with other support services.

Many are reaching out to these services for the very first time. As interest rates rise, many families and individuals are struggling to meet the repayments as well as facing rising energy bills and fuel costs. For some it is getting harder to put food on the table. Just last week I visited Moira FoodShare in Cobram with local member Tim McCurdy. They now provide food to 3500 people every month, and the demand is increasing. When I visited Bendigo Foodshare earlier this year, they were also experiencing a growing demand for services. Once self-sufficient families are now finding it difficult to afford essentials like food. Many must now choose between paying for housing, bills or groceries.

Financial Counselling Victoria has 310 financial counsellors statewide, yet many are part time and cannot keep up with the increasing number of people needing support. Bendigo Family and Financial Services are a community service that seek to help people experiencing economic disadvantage to become financially literate, but they now have waitlists of between six and eight weeks at their centres in Bendigo, Cobram and Shepparton. I know of other centres in regional Victoria that have had to close their books and turn people away. When someone finally makes the call and reaches out for help, they are often in a dire situation and need immediate support. Tracie Driscoll at the Bendigo centre told me that people are struggling with mortgages, basic living costs, purchasing schoolbooks and uniforms and keeping their cars on the road. While both parents might be working, all it takes is for one of them to get sick or to lose a few hours of work and they fall behind in paying their bills. Tracie has worked for the service for 15 years, but she has never seen this level of demand for support.

Just last week we saw another interest rate rise. We know that it may take up to 12 weeks for these changes to flow through. Local services are concerned that this interest rate hike will hit again, this time enough to tip more people over, which will see a further spike in the need for services in the new year. Financial Counselling Victoria recently wrote to the Premier seeking funds to increase the number of counsellors over the next three years and provide a pathway for more graduates to enter the system. The Nationals endorse the requests of Financial Counselling Victoria, and I ask that the Treasurer respond to this need to help those struggling with rising living costs. Victoria is lagging behind other states, and we need more financial counsellors working alongside individuals to develop the skills they need and find a way through the financial challenges they face.