Cameron Caldwell (Fadden, Liberal National Party) Share this | Hansard source

I rise today to echo the sentiment of my colleagues, who are also disappointed by this government's inability to address the cost-of-living pressures facing young Australians. Young families in suburbs like Pacific Pines and Gaven in my electorate are doing it tough despite repeated assurances from Labor that things are about to get easier. Rent is up, power prices are up and grocery prices are up—just to name a few.

The Treasurer and those opposite use phrases like 'inflation is moderating' or it's 'under control', but the truth is the damage is done. Inflation is compounding and it is permanent. It's very rare for me to agree with the Minister for Home Affairs, but she said it best when she noted that there are:

… parents who just cannot afford to buy the groceries they need for their families … parents who are struggling terribly with rents … people who can't afford to fill their car up with petrol …

I couldn't agree more, and Labor is to blame.

My constituents across the Gold Coast have seen their standard of living collapse over the last 18 months. I recently heard from a local mum in Coomera who vented about the struggle to balance the household budget and about the stresses of just trying to get the kids what they need for school. Another local, in Hollywell, raised the issue of her power bill, which has increased by a whopping 52 per cent, despite her usage only increasing by a modest 10 per cent compared to the same time last year—and that is the thing. The total for that bill is $1,941. It's simply not sustainable for families. All of this is happening while bracket creep means that Australians are paying 23 per cent more income tax, inflation and interest rates remain high, wages in real terms are plummeting and Labor is introducing another new tax, one on Australia's favourite family and work vehicles, which will hit young families the hardest.

It's typical that, when faced with any issue, the answer from Labor is another new tax. Labor's new car and ute tax is simply poor policy. We've seen the consequences before of Labor's obsession with reaching net zero in some sort of world-record time and promoting big new taxes, and, make no mistake, we are seeing it again. Labor's new family car tax will add thousands of dollars to the price of the cars that Australians love and, more importantly, need to drive. Industry have made their concerns clear, releasing modelling that shows that Australians could soon be paying up to $18,000 more for their favourite ute and up to $25,000 more for their favourite SUV. Labor's policy will hit mums and dads who rely on SUVs to get their kids to school and soccer and will hit tradies who rely on utes to do their job.

We all want to see cleaner cars and utes as we do our bit towards reducing emissions by 2050, but Labor's proposed new vehicle efficiency standard is extreme and will add thousands of dollars to the price of the cars that Australians love and need to drive. Labor claims the new efficiency standard will result in lower running costs—not if you can't afford to buy them in the first place or they're simply unavailable. This is just another example of Labor having all the wrong priorities. Instead of addressing the cost of living, Labor's latest rushed pursuit of emissions reduction policy will hurt vulnerable Australians the most.

Young working families are the backbone of our country, and they are doing it tough under this Albanese Labor government. When I meet with constituents in my electorate, from Pimpama in the north to Labrador in the south, I am constantly reminded that Labor's complete failure to tackle inflation and rein in spending is making life tougher. Let us not forget that, prior to the last election, the Labor Party repeatedly touted its promise to reduce power bills by $275—another broken promise. On wages, power bills, groceries and mortgages, Australians are rightly disappointed by the broken promises. This Labor government is getting sidetracked with other issues. If you have a mortgage, the average increase has been $24,000 per annum on the average home loan. If you're a renter, rents have increased by 26 per cent, to $580 per week on average. If you own a car or ute, Labor is now going to hit you hard again. By every measure possible, Labor is failing Australians on cost of living.

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