Simon Kennedy (Cook, Liberal Party) Share this | Hansard source

Right now, the people in Cook are hurting. Just this week, I was speaking to St Vincent de Paul in Gymea about constituents facing homelessness. They face homelessness in Cook because of the cost-of-living crisis. But this week we've had to listen to the Labor government boast about their cost-of-living measures for a cost-of-living crisis they've had a large hand in creating. How have they done this? It's $315 billion of spending—$30,000 per household. I know that every household in Cook—and, I would say, every household in Australia—would rather have had that $30,000 in their bank accounts than go through wasteful Labor government spending.

It was no surprise that the member for Swan didn't want to claim credit for interest rates. Yes, interest rates have gone up 13 times in a row and, yes, the Reserve Bank is independent. But let me tell you what independent economist Chris Richardson said just last week about the government's response:

Governments are throwing a lot of money at the symptoms of the cost-of-living crisis, but that worsens the cause of it.

He went on to say:

Governments have abandoned the field in the inflation fight.

He said:

We are fighting the inflation fight one-handed.

Yes, the Reserve Bank may be independent, but they are fighting with one hand tied behind their back, because this government simply will not rein in spending. They know this. While they want to boast about energy relief and while they want to boast about tax cuts, they know that what's happening is that this is driving inflation. Inflation will be higher for longer, and, unfortunately, it risks rates going up. When I'm chatting to St Vincent de Paul in my electorate, when we're talking about constituents facing homelessness, this is dire, and the Australian public knows it's dire.

Australia is different—we are different. I can see some of the members over there taking notes. If they're taking notes on what I'm talking about then I'd ask them to address this question: why does Australia have higher inflation than the US, the UK, New Zealand and the euro area? If they're going to comment on anything in this speech, please comment on this point: why is Australia's inflation increasing while it is decreasing in every other one of those countries? I would like to know the answer to that, I think the Reserve Bank would like to know the answer to that and I know that the Australian people would like to know the answer to that.

What kind of fantasy land is the Labor government living in when they're boasting and high-fiving about $300 energy subsidies? The gall of that! Two years ago they were promising that energy bills would go down by $275. They have risen by $1,000. I have sat here silently at the back of the chamber this week, listening to high-fives about $300 off energy prices. The constituents in my electorate are now paying $700 more after you promised them $275 off. I'm listening to high-fives about tax cuts from every single person who asked a question. I heard about 86,000 people in this electorate and 27,000 people in that electorate. Well, the truth is that average Australians are now paying 20 per cent more in personal income tax because of bracket creep and because of the homegrown inflation this government has driven. They have the gall to be high-fiving and slapping each other on the back about a $300 subsidy.

In a Liberal government, we don't believe the answer to the increased cost of living is subsidies. It's not more government and it's not splashing cash. What is it? It's addressing the problem: it's lowering energy prices, lowering the cost of living and lowering house prices. It's not subsidies and it's not bigger government.

See this speech in context