Daniel Mulino (Fraser, Australian Labor Party) Share this | Hansard source

This budget reflects the government's focus both on providing short-term cost-of-living relief and investing in the future. The short-term relief is material but also targeted and proportionate, as reflected by the fact it was funded by a budget in surplus. It includes amendments to the stage 3 tax cuts, which will provide relief to all taxpayers across Australia and far more relief than that offered by those opposite. In fact, 87 per cent of taxpayers in my electorate will do far better under those tax cuts in the budget. Many in my electorate earning between $18,000 and $45,000 would have received zero help under the tax cuts proposed by those opposite. They will receive substantial assistance under the budget this government has put forward. And the RBA and Treasury have both confirmed this won't add to inflationary pressure.

The energy subsidy of $300 for households and $325 for small business will help people and small businesses but also put downward pressure on prices at a much-needed time. There's also much-needed additional support through a boost to rental assistance—the first time there has been successive additions to rental assistance in many years. These measures are targeted and well calibrated for the macroeconomic conditions.

Then there is the fact the government has an eye to the future, with much-needed investment in training and fee-free TAFE places and in future industries. This budget provides people with the assistance they need now in a fiscally responsible way, and it also invests in the future.

See this speech in context