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

The $10 billion Housing Australia Future Fund is an important part of our housing policy, but it is not the only part of our housing policy. It comes hand in hand with another $8 billion of investment over two budgets in social and affordable housing. It also comes with the biggest increase in Commonwealth rent assistance in three decades, which is an example of how we are taking some of the edge off the cost-of-living pressures in our economy without adding to inflation. It's an important part of our fight against inflation and it is also part of our broader economic plan. That plan and this government are working for Australia. In difficult times we are making welcome progress. Inflation is too high, but it's moderating. We are rolling out billions of dollars in cost-of-living help. We got the first surplus in 15 years, and the labour market is proving to be especially resilient. We saw that today: 64,900 jobs created in one month.

I want the House to remember these numbers. Since monthly records were kept, there have been only 18 times in our history that unemployment has had a '3' in front of it. Fifteen of those 18 times have been under this Prime Minister and this government—15 out of 18 times. That's the longest run of unemployment this low on record. This is a stunning outcome for the people of Australia and for our economy. It demonstrates something important, as well: this government and this country are capable of making progress together on the cost of living, on jobs and wages, on housing and, yes, on the Voice as well. In every respect, the contrast couldn't be clearer, with the wasted decade of economic mismanagement, division and disappointment, which defined the decade of the Liberals and Nationals in office.

Honourable members interjecting—

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