Zoe McKenzie (Flinders, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. A new report from the Consumer Action Law Centre has blamed the cost-of-living crisis for a spike in personal debt amongst Victorians, with average debt now at $2,459, up 43 per cent in less than two years. Centre director Luke Lovell said of the rise:

Thousands of Victorians will be turning off their heating and shivering through this winter as energy prices are set to soar.

Why are Victorians suffering because of this Prime Minister's incompetence?

Government Members:

Government members interjecting—

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

Order! The Treasurer will cease interjecting. Members on my right! The Prime Minister has the call.

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

I thank the member for Flinders for her question. I'm happy to get a question about cost of living because it provides me with an opportunity to talk about what we are doing with cost-of-living measures. We, of course, are trying to deal with inflation, and we have a three-point plan there. We will turn what was a $78 billion deficit under those opposite into a surplus that will be around $20 billion—the first surplus in 15 years. That makes a difference. We're providing cost-of-living help that supports household budgets without adding new inflation. The measures that we have in place that are not supported by the member for Flinders and those opposite include cheaper childcare, which is making a difference; cheaper medicines, which came into place on 1 January; the energy bill relief, which was opposed by the member for Flinders and those opposite; affordable and social housing that the member opposite is opposing—that support for increased supply.

On Monday morning the member was part of a political party that was threatening to block rental relief for people on rent relief, the increases in JobSeeker payments, increases above that for over-55-year-olds and the increased eligibility for parenting payment for single parents, particularly for single mums. Those opposite were threatening to block that. They said in one of their launches that they would do that.

It's no wonder it is the case that people look at those opposite and say, 'If they care about the cost of the living, why are they against every single cost-of-living measure?

Since 1 January, I can inform the member that cheaper medicines have saved Australian's $118 million, as of last month. That's $118 million in that single measure. The third measure we have is to invest in measures to tackle the supply-side challenges. The National Reconstruction Fund, fee-free TAFE, infrastructure investment and Rewiring the Nation are all making a difference. We saw in the CPI for the June quarter that the CPI rose by 0.8 per cent. We know that the largest increase this century was on the watch of those opposite, back in the March 2022 quarter, of 2.1 per cent. The member for Riverina shakes his head because he remembers those dark days. (Time expired)