Terry Young (Longman, Liberal National Party) Share this | Hansard source

It's my pleasure to rise and speak on the private member's motion moved by the member for Forde. The people I serve in the Longman electorate are just good Aussies, who simply want to be safe in their homes and out and about. They want to ensure that they have good roads and infrastructure to support our fast-growing community and a good healthcare system that ensures, when there are medical issues, they can be dealt with professionally, efficiently and affordably. And they want to be able to pay their kids' sporting fees. But the No. 1 thing they expect from their governments of all levels is to be able to afford to live their lives in a comfortable way. They want to be able to afford to pay their rent, mortgage, power and grocery bills without having to get a second job, which takes away from precious family time. Unfortunately, many are telling me they feel that this Labor government has let them down in these areas, especially in the cost of living.

When the coalition was in government, my community and all Australians enjoyed the lowest interest rates, the lowest credit card debt, the highest personal savings and the lowest unemployment rate in decades. They were promised at the election that they would be better off under Labor. Unfortunately, this is not the case. Forget the spin; the numbers simply don't lie. In its first 18 months of government, this Labor government has overseen a personal income tax rise of 27 per cent. Core inflation is at an incredible 5.4 per cent. Energy prices have risen despite a promise before the last election to reduce energy bills by $275. Interest rates have risen an incredible 12 times, which means someone with a $500,000 mortgage is now paying an extra $18,000 per annum, which is $346 per week. This not only affects homeowners but also renters, as we know that most rental properties are owned by mum and dad investors who have no choice, in most cases, but to pass on these interest rate hikes to already suffering tenants.

Labor sort of adopted the coalition's stage 3 tax cuts, which people do appreciate, but they simply do not go far enough. To put it into perspective, a worker on an average income has had their real net disposable income fall by an enormous 8.6 per cent. In dollar terms, this equates to a figure of just under $8,000 per annum—no wonder people are struggling. We have to stop talking about gross wages and talk about net wages after tax and real wages, which is where we measure what people actually get for their money and, quite simply, the only true measure.

What Labor has always failed to understand is that when you increase gross wages, this puts pressure on inflation. I know Minister Burke will say that the member for Longman is against wage growth. Let me state right now: that is not the case. I, more than anyone, want to see the financial burden on low- to middle-income earners ease, and I support real wage growth. But the fact is that when you keep increasing gross wages, this increases prices as these higher wage costs must be recouped by businesses. So I pose the question: what is the point in getting a $50 gross wage increase if $15 goes in tax and your weekly grocery bill goes up by $70? In real terms, it means you're actually $35 worse off—and that is exactly what is happening. Of course Labor aren't interested in helping people; they are only interested in the headline, which is reprehensible.

I was shocked that one of Labor's first decisions in government was to not continue the coalition's excellent low- and middle-income tax offset. This initiative gave workers on $120,000 per annum a boost of up to $1,500 when they did their tax return. I've had so many people ask me, after they had done their tax, why this cost-of-living measure had been quashed. My only reply is: good question.

Good government is about prioritising the most important issues that the people of Australia face, and I can tell you that many in my electorate are questioning the way this Labor government prioritises. They watched in dismay and disbelief as this government spent their first 15 months in charge using time, energy and money on a divisive referendum that cost taxpayers $450 million at a time when interest rates and inflation were increasing dramatically. It's what my constituents describe as being 'completely out of touch'. After this divisive referendum was soundly defeated, the government almost had an awakening and decided, due to the polling results, to do something about it. Unfortunately, as always with Labor governments, their solutions are rarely effective and I fear that Australians have not seen the worst of this government and that there is more pain to come.

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