Yvette D'Ath (Petrie, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline for the House the targeted, responsible measures the government delivered in the budget which are specifically designed to help families meet the rising costs of living?

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for her question, because this is a government that delivers for working families and those doing it tough. We put down a budget that tips the scales in favour of working families and those doing it tough, and those opposite neglected them for a decade. As a result of this budget, low- and middle-income earners will have more money in their pockets.

Let’s take the tax cuts. For the first time in a long time, low- and middle-income earners will benefit most from the personal income tax cuts, unlike what occurred over previous years under the member for Higgins. Let’s take the example of a couple earning $70,000 a year. A couple earning $70,000 a year will have a combined extra $40 in their pay cheque each week from 1 July. That will help with the rising costs of living.

Let’s move on to child care. There is an increase in the reimbursement of out-of-pocket childcare costs to 50 per cent. Those opposite paid it in arrears at 30 per cent. They were not concerned about the cost of living while they were doing that. In fact what they were doing was attacking the living standards of those on low and middle incomes. Do we remember what they were doing with Work Choices or what they did to working families, with interest rate rise after interest rate rise after interest rate rise? They have gone very quiet now because the Australian people remember their record.

We are delivering assistance to working families and those doing it tough because of the rising cost of living and we are proud to have been able to do that—absolutely proud. All that those on the other side of the House could do was lecture working families about how they had never been better off. We do understand the impact of the cost of living on families, which is why we have moved decisively in this budget to tip the scales towards working families and those doing it tough.