Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

Thanks to the member for Hawke for his question about the budget last night. We're really proud of the budget that we handed down last night—the first budget of the Albanese Labor government. In uncertain times, what the budget did was recognise that when you've got all this global uncertainty right around the world, your best defence is a good, solid responsible, sensible budget at home.

But the budget does more than batten down the hatches against global uncertainty—it also begins to back families and to build a better future for this country with our five point cost-of-living relief plan of $7½ billion: cheaper child care, extension of paid parental leave, cheaper medicines, a housing accord for more affordable housing, and getting wages moving again. In addition to that cost-of-living plan, delivered in the most responsible way that we could so that we're not adding extra pressure to inflation, is our plan to grow the economy to make it stronger, more resilient and more modern. Absolutely central to that is investing in the capacity and the capabilities of our people. That's why our investments in fee-free TAFE and more university places are so important. It's why our investments in cleaner and cheaper energy are so important. It's why our investments in a future made in Australia and our National Reconstruction Fund are so important. That's how we strengthen the economy—by diversifying it, by investing in our industries and by creating new, secure well paid jobs.

Right across the board, the budget that I handed down from this despatch box last night was all about building a better future for Australians and going about it in the most responsible way. If we had continued down the path set by those opposite, we'd be up for another decade of wage stagnation, skills-and-labour shortages, a crisis in aged care, energy policy chaos and a trillion dollars with nowhere near enough to show for it. What we were able to do last night was to begin to lay the foundations for a more resilient economy and a more responsible budget.

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