Sussan Ley (Farrer, Liberal Party, Shadow Minister for Women) Share this | Link to this | Hansard source

My question is to the Prime Minister. A Canstar consumer survey has found 59 per cent of people cite the cost of groceries, rent, electricity, gas, interest rates or petrol as their No. 1 concern for 2023. After nine months in office, the Prime Minister doesn't have a single policy to put downward pressure on interest rates. Why do Australian families always pay more under Labor?

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I thank the member for her question. I'd say to her: go and have a look at the evidence today of the Reserve Bank governor or the head of Treasury. They spoke about the fact that our plans are actually making a difference.

Opposition Members:

Opposition members interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Members on my left will cease interjecting.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Senator Canavan very helpfully asked the RBA governor the following question today: 'Just on the energy side of things, how much has the disruption in energy flows resulting from the war in Ukraine contributed to inflation over the past year?' The governor said this: 'Substantially. At one point the price of petrol, at the annual rate, was up 30 per cent. That makes a big difference. The sky-high prices of gas and coal in Europe flowed back into our domestic market. That's been a first-order issue. But it hasn't just been energy; it has been food and a lot of the supply chains. It's worked its way through. The more positive story here is that we're through the worst of that.'

Those opposite who are opposing positive plans like the National Reconstruction Fund—and the governor has also spoken about how supply chain issues were contributing to inflation—are standing in the way of solutions to these issues. It's just extraordinary. The same opposition came when we brought forward our energy price relief plan to this parliament in December. Those opposite voted against $1½ billion in relief that was designed in a way, in partnership with and with advice from Treasury, to make sure—

Milton Dick (Speaker) Share this | Link to this | Hansard source

The Prime Minister will pause. I will hear from the Deputy Leader of the Opposition on a point of order. I'd ask her to state the point of order.

Sussan Ley (Farrer, Liberal Party, Shadow Minister for Women) Share this | Link to this | Hansard source

On relevance: the core part of the question went to interest rates, and the Prime Minister hasn't mentioned the core part of the question.

Milton Dick (Speaker) Share this | Link to this | Hansard source

Resume your seat. It was about households, about the Labor government's policies of nine months and about interest rates. There were many components to the question. I appreciate the deputy may have one important part of the question, but the Prime Minister is being relevant to the whole question. I give him the call.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Thanks, Mr Speaker. We know that there are inflationary pressures in the economy, and that is what interest rates are related to—inflation. There's a relationship between the two. I would have thought that was pretty obvious. That is what the evidence today has said.

That is why we have put in place our three-part plan of relief, repair and restraint, making sure that we provide relief, that we provide repair to issues like supply chains and the skills crisis, and also that we have restraint when it comes to fiscal policy so that fiscal policy is working in concert with monetary policy. That is the plan that we are putting forward, a plant that is constructive, a plant that is positive. Those opposite have nothing to say except one word, 'No,' to everything that is put forward.