SENATOR DEAN SMITH
SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER
SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING
LIBERAL SENATOR FOR WESTERN AUSTRALIA
31 March 2026
WA COST-OF-LIVING CRISIS DEEPENS AS HOUSEHOLDS AND BUSINESSES HIT BREAKING POINT
Cost of living pressures under the Albanese Government are driving growing economic anxiety in WA.
The latest CCIWA Consumer Confidence Survey reveals confidence has fallen to its lowest level since March 2023.
The survey of 836 households found that 72 per cent identified living costs as their biggest concern, while 28 per cent expect economic conditions to worsen.
More than half – or 54 per cent – are already planning to cut discretionary spending, including on dining, retail and entertainment.
At the same time, a CCIWA snap survey of more than 430 WA businesses highlights the scale of the fuel-driven shock to the economy.
The survey found 82 per cent of businesses are experiencing higher supplier costs, with 45 per cent directly impacted by fuel shortages.
31 per cent, almost one in three, describe the impact as significant or severe, while just 7 per cent report no impact.
56 per cent absorbing higher costs and 44 per cent passing those costs on to consumers.
The result is a compounding cycle where higher business costs drive higher consumer prices.
The economic consequences are already emerging, with nearly half of businesses cutting non-essential spending, while one in four are reviewing staffing levels, raising concerns about jobs and economic resilience.
With households tightening budgets, sectors like retail, hospitality and tourism—particularly in regional WA—are expected to feel the impact first.
These are the economic realities for Western Australians after nearly four years of the Albanese Government.
Quotes attributable to Senator Dean Smith
“This data confirms the toll of the Albanese Labor Government’s economic mismanagement on Western Australian households and businesses.”
“It mirrors recent national figures that also confirm consumer confidence is at a historic low.”
“More than 70 per cent of households say living costs are their biggest concern, while over 80 per cent of businesses are facing higher costs – yet Labor continues to deny it has a spending problem that is driving inflation and making it harder to run a home or business in WA”
“This is what happens when you have a high spending government fuelling inflation – business costs go up, families cut back, both are left exposed to external shocks like the one in the Middle East.”