Julian Hill (Bruce, Australian Labor Party) Share this | Hansard source

Well, you're lining up; I'll give you that. As we're talking about the government's responsible economic management, all of us, when we're here doing our job in the parliament, miss important events in our electorate. In that context, I'd like to acknowledge Serbia's Statehood Day, on 15 February, also known as Sretenje. The day commemorates the outbreak of the first Serbian uprising in 1804, which evolved into the Serbian revolution against Ottoman rule. On the same day, some years later—in 1835—the first modern Serbian constitution, known as the Sretenje constitution, was adopted. This day was declared a holiday by the Serbian parliament in 2001, over 20 years ago, to commemorate that first Serbian uprising. The first modern Serbian constitution emphasised a focus on human rights and bringing Serbia into the modern age.

For those who haven't had a chance to visit Serbia, I recommend you do so, particularly the city of Belgrade, which sat for centuries on the literal border of the Ottoman Empire and the then Austro-Hungarian Empire. Statehood Day of Serbia is celebrated over two days, 15 and 16 February, and I'm sorry that I can't be in my community this year for those celebrations.

My electorate is home to a vibrant and growing Serbian Australian community. There are over 4,000 people with Serbian ancestry in Bruce, including over a thousand who were actually born in Serbia. Over 3,000 people still speak Serbian at home, as their preferred language, and nearly 3,000 follow the Serbian Orthodox religion, with our wonderfully vibrant church down in Keysborough.

There's a special poignancy this year to our celebrations of this cultural heritage because my friend the mayor of the City of Greater Dandenong, Councillor Lana Formoso, is the first mayor of Greater Dandenong who is of Serbian heritage. Lana grew up locally, but the community is incredibly proud. There are over 150 nationalities that call the City of Greater Dandenong home, and the Serbian community is proud to see that one of their own, as they claim, is now leading the city. I saw that firsthand at the 30th anniversary of the Serbian Community Association of Australia some weeks ago.

The appropriation bills that are before us implement the Mid-Year Economic and Fiscal Outlook. It is an opportunity to reflect on the government's responsible economic management and historic budget turnaround—the first surplus in 15 years. That was something those opposite promised budget after budget. They had the 'Back in black' cups made, but they never actually delivered a surplus, even before COVID.

This appropriation bill shows the government's efforts in cutting rorts and waste. In just 18 months in the life of this government, over $49.6 billion of spending has been identified and cut and reprioritised. The budget bills again show that the government is banking the vast majority of revenue upgrades. So when the government in good economic times with a strong labour market receives more revenue than was anticipated this Labor government is returning 88 per cent of that revenue to the budget, as opposed to the record of those opposite, who were spendthrifts, splashing the cash around, budget after budget, to try and buy a few votes, banking only 40 per cent of the revenue upgrade. It's incredibly important because banking that revenue, cutting rorts and waste and running a surplus budget are exactly what we need right now to put downward pressure on inflation and interest rates.

The government is doing its part, alongside the Reserve Bank, to tame inflation. It's not mission accomplished. Inflation is still the central economic challenge confronting the country. It's low- and middle-income earners and those in society who have the very least who get hurt when inflation is out of control in any economy and any country. But there are some encouraging signs. Inflation is coming down. It's heading in the right direction. Real wages are up, and Labor's tax cuts are on the way. All 13.6 million taxpayers will get a cut, not just a select few, which was the policy of those opposite.

But it is quite a contrast with the record of those opposite. One of the favourite lies the that Liberal and National parties love to tell is that they are somehow better economic managers.

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