Cost-of-living measures top RACQ’s election wish list
Read RACQ's Federal Election Priorities
RACQ’s General Manager Advocacy Joshua Cooney said cost-of-living was front of mind for many Queenslanders and there were some key ways these issues could be addressed.
“According to the Insurance Council of Australia, the Sunshine State has borne the brunt of nine catastrophic weather events and two significant events since 2020, with 67,000 Queensland homes currently at severe or extreme risk of flooding,” Mr Cooney said.
“The Actuaries Institute also reported Queensland has the highest estimated mean for home insurance premiums of any state in Australia at $3,815, which is more than a third above the national mean of $2,774.
“These dire statistics need to be reflected in funding to reduce insurance premiums by ditching the double tax on insurance, improving the Cyclone Reinsurance Pool and making homes more resilient by expanding the Household Resilience Program for cyclones and Resilient Homes Fund for floods.”
Mr Cooney explained that investing in the rollout of household batteries was another way to put downward pressure on increasing electricity costs.
“If we get home battery technology right, Queenslanders will have an opportunity to make the most of their solar production and offset their peak electricity usage.” he said.
RACQ outlined other measures to address cost-of-living concerns in its submission, including supporting all Queenslanders as the uptake of electric vehicles (EVs) continues and implementing a fairer road tax.
“Helping motorists avoid high fuel prices requires additional policies to make EVs more affordable and attractive for Queenslanders,” Mr Cooney said.
“At the same time, we need to ensure regional Queenslanders, and those who require heavier vehicles like utes, are not penalised, but supported in the push to decarbonise transport.
“Efficient electrified vehicles are critical to reducing Australia’s reliance on high-cost fossil fuels, but as our nation transitions to EVs, revenue from fuel excise will fall.
“Without a road tax reform, we will increasingly see a divided motoring population – those that pay fuel excise and those that don’t. This is an issue of fairness.”
Fair funding to fix the Bruce Highway was another major election priority for RACQ and its members and that commitment was made by the Federal and State Governments in January 2025 with the announcement of a $9 billion package.
RACQ strongly welcomed that investment and will continue engaging with all levels of government to ensure the money is spent where it is needed most to make the Bruce safer and more resilience to severe weather.
For more details, read RACQ’s full Federal Election Priorities booklet.
Related topics
-
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.
Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
RACQ Operations Pty Ltd (ABN 80 009 663 414 AR 000234978) and Members Travel Group Pty Ltd (ABN 45 144 538 803 AR 000432492) are acting as an Authorised Representative of the issuer of the insurance, Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548). Any advice set out above is general in nature only, and does not take into account your objectives, financial situation or needs. Before purchasing any travel products, please consider the RACQ Travel Insurance Product Disclosure Statement (PDS) and the Target Market Determinations (TMDs) that apply to these products. Whilst the PDS outlines the Terms and Conditions of these products, the TMDs outline the intended class of customers that comprise the target market for these travel products. This will allow you to consider which products best suit your objectives, financial situation and needs and consider the products appropriateness to your personal circumstances. TMDs also outline matters involving the distribution and the review of these products. The PDS, Supplementary PDS and TMDs for each travel product can be found here.