Sam Rae (Hawke, Australian Labor Party) Share this | Hansard source

I'm very proud of the work the Albanese Labor government is doing to ease the cost-of-living pressures that people in my electorate are facing. We know that Australians are doing it tough as inflation hits hip pockets around the country. Since early last year, when inflation and interest rates started rising in the dying days of the former Liberal government, Australians have been forced to pay more for the things they can't do without. That's why the Albanese Labor government's priority has been and continues to be addressing inflation and the cost-of-living challenge it presents.

The Albanese Labor government's 10-point plan to address cost-of-living pressures is about providing targeted and responsible relief where it's needed most. The $23 billion of support is providing electricity bill relief, cheaper child care, cheaper medicines and more affordable homes, just to name a few. While relief is at the centre of our economic plan, we're also looking at repairing the damage done by the mismanagement of the former Liberal government. We've already delivered the first budget surplus in 15 years, and inflation is finally moderating. Wages are growing, after a decade of deliberate suppression under those opposite, and a record 550,000 jobs have been created.

While this shows the economy is improving under our stewardship, there is still some way to go as Australians continue to face the financial pressures we all feel at home. Australians on low and fixed incomes are doing it particularly tough. That's why a boost to income support was included in our cost-of-living relief package in the May budget. As of 20 September, 5.5 million Australians who receive income support saw an increase to their payments as well as an expansion of eligibility to ensure more people are getting the support they need. This included the largest increase to Commonwealth rent assistance in 30 years, an expansion of eligibility for the single parenting payment and increases to payments including JobSeeker, youth allowance, partnered parenting payment and more. The Albanese Labor government are boosting these payments because we are committed to ensuring vulnerable Australians are not left behind in times of economic hardship.

That's why we're ensuring other basic necessities are more affordable as well. Our intervention in the energy market has kept wholesale prices lower, while our energy relief program will provide more savings for concession card holders. Similarly we're making health care cheaper and more accessible. We've already reduced the cost of filling a script at the pharmacy by $12.50 and started rolling out 60-day prescriptions, effectively halving the cost of medications included in the program. From the start of next month we're tripling the bulk-billing incentive, the largest increase in history, to increase access to bulk-billed GP appointments for concession card holders and kids.

After inheriting a trillion dollars of Liberal debt, stagnant wage growth and an economy that had experienced in the worst decade for productivity in over 50 years, this Labor government is getting on with the job of cleaning up the Liberals economic mess. We understand that while providing responsible relief to household budgets we must also do what we can do drive down inflation. That's why we're investing in our economy where the previous government chose not to. We're making significant investments in economic capacity and productivity. The $15 billion National Reconstruction Fund will enhance Australian manufacturing capability and ensure Australia is a country that makes things. Our fee-free TAFE program, which saw 215,000 people enrol in just the first six months, will help ensure we have the skilled workers we need to grow our economy into the future. These measures are about laying the foundations for future growth and ensuring we are better prepared for global economic challenges in the future. We can't afford to repeat the decade of inaction and neglect we saw under those opposite. Labor's plan will ensure that our economy is resilient, it's sustainable and it is prosperous for all Australians into the future.

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