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

This decision is a reflection of the good progress that we are making as a country in the fight against inflation. It gives us confidence that inflation is moderating in welcome and encouraging ways. Inflation has come off very substantially since its peak in 2022. And as I said a moment ago, in quarterly terms, inflation is now around a third of what we inherited from those opposite, and we know from the Australian Bureau of Statistics that our policies are contributing to the moderation and inflation. The budget restraint has given us the first surplus in 15 years, but we also know that the combination of our policies on electricity bill relief, early childhood education and rent assistance—

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