Keith Wolahan (Menzies, Liberal Party) Share this | Hansard source

We cherish those who plant trees under whose shade they will never sit because they have put others ahead of themselves. That is what Australians look for in a moment like the budget announcement last night. They look for a government, a prime minister and a treasurer who will put them before themselves. Indeed, when we have children come and visit us—we had some just before—and look down on this place in debates like this, they will ask themselves, 'Is this a group of people, a government, that will put our interests before theirs?' It's one of the reasons we have the Intergenerational reportbecause it's not about us; it is about them. When we make decisions in a budget, we are telling Australians about what matters to us and we are telling them and sending a signal of whether our priorities are them or ourselves.

Some say you cannot compare how a family manages its budget to how a government does. In some sense, they're right. And it's built upon an assumption that I reject. The assumption that it is built on is that governments are infinite and families are finite: governments will be here again and again and will never be called upon to finally settle a debt—future generations like the children above us can pay that off!—whereas families are finite. I reject that assumption because that is not how responsible families think. Families don't think like that. They plant seeds that become mature trees for their children and grandchildren to sit under.

First, I'd like to take you to the intergenerational report, the document that reflects the idea that we put other generations first. There is a graph on page 144 that matters to this country. It uses 2023 dollars—it is not adjusted for inflation—and notes the following: government spending in 2023 per person is at $25,000 per person. We saw reinforced last night that on current trends—not adjusted for inflation—that figure will hit $40,000 per person. That number is extraordinary—$40,000. It doesn't account for state government spending, it doesn't account for councils and it doesn't account for all of the other costs that people have. With an average wage of $93,000 and a median wage—which matters more because it is exactly halfway—of $65,000, we are on a trajectory that will see federal government spending account for two-thirds of a median wage. You don't need to be a futurist to know that that will bankrupt this nation. We won't be able to enjoy all of the prosperity, all of the security, or be able to tell generations beyond us that we will also plant trees that they can sit under. You can fairly say we are cutting them down.

So the question is: what does this budget do for future generations? Average families are $35,000 a year worse off, and they were given talking points. Families are making really tough decisions right now. We all have food banks in our electorates and we all know that the queues are out the door. But families who can still afford to put food on the table are making decisions about whether it is fresh or processed. They are making decisions about what type of meat is served. We are seeing fewer students come to Canberra because the cost of coming here is so high. We are seeing sport being cut, and we are seeing the heating turned off in winter and the air conditioning turned off in summer. These are the real decisions that families make for their budgets that provide important lessons for how we conduct ourselves here in this place.

There is no more important issue for future generations than housing and, right now, we are seeing a housing crisis. We are seeing young Australians on that median wage of $65,000 a year having to save for 12 years for a deposit—12 years! Even then, most of them will be rejected for the median price, so it is no wonder they are giving up. Australians are looking to us to have their interests at heart. They looked for that in the budget last night and it was wanting.

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