Libby Coker (Corangamite, Australian Labor Party) Share this | Hansard source

It is a great pleasure to rise for this matter of public importance to talk about what our government is doing to help families and small businesses with cost-of-living pressures without adding to inflation. In my electorate and across our nation, I know that many families are under the pump. They're doing it tough. So it is even more important to ensure that our 2023-24 budget is carefully calibrated to manage inflation while helping Australians get ahead. I'm proud that this budget is expected to directly reduce inflation by three-quarters of a percentage point in this coming financial year.

On this side of the House we understand that inflation is the defining economic challenge of 2023, as it was in 2022. This is driven in large part by Russia's illegal war on Ukraine, and also in no small part as a consequence of the wasted decade by the previous government, which included more than 20 failed energy policies. The coalition oversaw a decade of wasted opportunities that left Australia with falling real wages, cost-of-living pressures and $1 trillion of debt without an economic dividend to show for it. Australians understand that we didn't create these problems, but they elected us to take responsibility for addressing them, and we are. This is despite the coalition's ongoing opposition to policies that build our economy, grow jobs and reduce inflation. Now they're standing in the way of our government's Housing Australia Future Fund, which will deliver 30,000 homes for people who need them the most. I urge the coalition to reconsider.

I'm proud to be part of the Albanese government that is directly tackling cost-of-living pressures in health, in housing, in energy bill relief and in wages growth. We are increasing payments for JobSeeker, Austudy and youth allowance for more than 1.1 million Australians.

Health is fundamental to living a happy, productive life. Labor understands this. That's why we created Medicare, and in this budget we have made a record investment in bulk-billing. We're investing $3.5 billion to triple the bulk-billing incentive for GP consultations. This will support 11.6 million eligible Australians to access a GP with no out-of-pocket costs. This is the largest investment in bulk-billing incentives ever, making it easier and cheaper for Australians to see their doctor. We are also making changes to pharmacy dispensing. From 1 September, many patients requiring routine medication will be able to buy two months worth of medication for the price of a single prescription. This means fewer visits to the GP and the pharmacy, saving you time and money.

The Albanese government has also introduced the Energy Price Relief Plan. With winter coming, this plan will help to relief energy costs for five million eligible households and one million eligible small businesses. It will provide $3 billion of electricity bill relief. Our government is also making it easier for households and small businesses to access energy savings and upgrades, through financing options for households and a new tax break for small and medium-sized businesses.

On top of this, we've successfully advocated for wage increases for minimum and award wage workers and we are funding pay rises for aged-care workers, and we're delivering cheaper child care and cheaper medicines. We're delivering Commonwealth supported university places. We've expanded paid parental leave and have a new pensioner work bonus so that older Australians can keep more of what they earn without it affecting their pensions, and we're increasing the maximum rate of Commonwealth rent assistance. We're also providing electricity bill rebates to more than five million households and one million small businesses, in partnership with state and territory governments.

In closing, this is a bill that will support Australians. It will help to manage our inflation. It has something in it for all Australian families. It has a focus on women. It supports small business. And, importantly, it has a focus on reducing climate change implications and emissions. I am very proud to support our government's approach to working to reduce cost-of-living pressures whilst we also manage inflation. We will do this, and we will support those who most need it.

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