Daniel Mulino (Fraser, Australian Labor Party) Share this | Hansard source

In the lead-up to COVID-19, this government presided over the most barren economic run experienced by Australian households for almost 100 years. Between 2013 and 2020, growth in real GDP was the worst since the Great Depression. Real wages in Australia were 0.7 per cent lower in 2019 compared to 2013. Under this government, Australian households aren't just treading water; they're being sent backwards.

The single biggest failure of this budget is that this run of anaemic outcomes for households is set to continue for years to come. Despite the labour market showing signs of tightening, the wage price index is set to increase by less than inflation in 2020-21—households go backwards again. In 2021-22, the wage price index is estimated to be 1.5 per cent, with a CPI of 1.75 per cent. In 2022-23, real wages will see no increase. This government has racked up a trillion dollars in debt but has failed to invest in the training measures and labour market reforms that could see increased wages. This was a problem for eight years before COVID, and this government still has no answers. The budget papers are filled to the brim with statistics and self-congratulation but little good news when it comes to the living standards of the average Australian household.

See this speech in context