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

Our cost-of-living plan is carefully designed and calibrated and targeted to take some of the edge off inflation rather than add to it. And the ABS said that our policies took half a percentage point off inflation in the most recent data. Without our energy plan, electricity would have gone up 18.6 per cent, not 4.2 per cent. Without our rent assistance, rent would have gone up 2½ per cent, not 2.2. Without our childcare policies, fees would have gone up 6.7 per cent, not down by 13.2 per cent.

I'm asked about the hurdles, and it's worth reminding the House that when those opposite voted against our cost-of-living help they voted for higher inflation and they voted for lower wages. If they had their way, inflation would be higher and wages would be lower, and that's why we inherited real wages falling 3.4 per cent. Honourable members should not forget this when they cry crocodile tears over the cost of living. Their nasty negativity is no substitute for economic credibility.

Our responsible economic management is helping in the fight against inflation. The IMF said that when they handed down their report card. Fitch said that when they reaffirmed the AAA. The RBA governor said that when she was asked at estimates.

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