Jerome Laxale (Bennelong, Australian Labor Party) Share this | Hansard source

The government has introduced a responsible budget that will help alleviate cost-of-living pressures whilst also laying the foundation for a stronger and more resilient economy. We understand that household budgets are tight and that cost-of-living pressures are being felt right across the country. That's why we've delivered responsible cost-of-living relief in this budget, building on the targeted relief of last year's budget.

Our cost-of-living tax cuts will benefit every Australian taxpayer, with 13 million Australians set to receive a tax cut from 1 July—a matter of days away. This translates to an average tax cut of more than $1,700 dollars a year for the average worker in Bennelong, and every single taxpayer in Bennelong—all 92,000 of them—will benefit from these cost-of-living tax cuts at the right time. It will put money back into the pockets of every working Australian.

Out budget will also provide new energy bill relief for every household, with $300 for each home and $325 for one million small businesses across the nation. This is real, tangible wealth for those struggling to keep up with rising energy costs. And let's not forget that those opposite have voted against energy relief in the past. We urge them not to repeat their mistakes with this rebate. Opposing these measures will only hurt households and businesses already under pressure. In addition, we've increased Commonwealth rent assistance again, marking the first back-to-back increase in three decades. This boost, combined with our energy bill relief, is designed to directly reduce inflationary pressures, directly benefiting nearly a million households.

Beyond immediate relief, our budget is focused on investing in the future. We are committed to building more homes for Australians, with $6 billion allocated for new housing measures. This investment will help address the housing crisis and ensure that more Australians have access to a safe, affordable home. The extra $6 billion in this budget brings total investments into housing by this government to over $30 billion—an extraordinary amount in two years and in stark contrast to the decade of nothing under from the former government. We need more homes for young people, but young people also deserve cost-of-living relief. Our HECS reforms—wiping $3 billion of student debt—will benefit 23,800 people in Bennelong, making higher education more accessible and affordable. We've invested in cost-of-living relief in homes and for students.

But we also need to invest in our future. As the world decarbonises, we need to be at the front of the pack. We need to make sure that we benefit from the environmental and economic gains of a clean energy transition. Our commitment to a future made in Australia is evident in our support for low-emissions energy manufacturing. We are building a stronger more resilient economy by supporting Australian businesses and creating Australian jobs, while the alternative is more interested in fear and division.

The coalition claim to care about a net zero economy but have actively sabotaged Australia's switch to renewable energy. They reject the plan to ensure we build batteries and solar panels here locally, but then they complain that we import too many of them. They vote against energy relief and price caps but then complain that power bills are too high. You see the pattern here? The Liberals and Nationals are not interested in fixing the issues they created; they just want to be wreckers. You just need to look at their budget reply to reveal their real intentions. How many measures did the Leader of the Opposition announce to help families with cost of living? None. What policies did they propose to reduce the cost of essential medicines? Zero. And what was their grand plan to create better jobs and higher wages? There wasn't one. The only policies they announced on housing were to let young people wipe out their super balances and then, of course, to shamefully blame migrants for every problem under the sun.

On this side, we will increase housing supply, protect super and embrace migration and its benefit to our nation. On that side, there is no plan, only old ideas, fear and division. The government's budget is one for all Australians. It's a budget crafted with care and responsibility, addressing the immediate cost-of-living pressures we face whilst also building a foundation for a positive future. Our budget provides real solutions and investments and responsible economic management, and I commend them to the House.

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