Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

The Governor of the Reserve Bank has made a number of appearances this week, and one of the things that he has said is that our policies are taking pressure off inflation. He has indicated that monetary policy is working hand-in-hand with fiscal policy. That is what he has said. Indeed, what we are seeing is the measures that we've put in place making a difference. This is what the Origin statement to the Australian Stock Exchange declared today:

The announcement in December 2022 by the Federal government of price caps on gas and coal … is in response to these global and domestic shocks.

More recently we have seen prices decline …

That is what Origin have said.

Dr Steven Kennedy of the Treasury, who has served both the former government and the current government with distinction, said:

Following the December announcement, National Electricity Market futures prices have declined significantly … If sustained, lower futures prices will be reflected in the default market offer announced by the regulator around the middle of the year … Over the year to June 2024, Treasury expects the coal and gas caps to reduce inflation by half a point.

That's what he had to say. But not everyone supports—

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