Libby Coker (Corangamite, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. How is the government's responsible budget management helping take the pressure off households and enabling the government to invest in cost-of-living relief?

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

The member for Barker will cease interjecting.

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

I thank the member for Corangamite for her question about the cost-of-living pressures facing Australian families, because that is, of course, the No. 1 issue that the government is focused on. There are three vital ways we're tackling cost of living—

Opposition Members:

Opposition members interjecting—

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

Order, members on my left!

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

We get no questions on cost of living from those opposite—none. We're focused on getting costs down for families, getting wages up for workers and getting the budget onto a stronger foundation. We're managing the budget responsibly, and the question goes to that. We inherited a $78 billion deficit and turned that into a $22 billion surplus—a $100 billion turnaround and the first surplus in 15 years after the former government promised a surplus in their first year and every year thereafter when they were elected in 2013.

The result of that is that the Fitch Ratings agency, last week, reaffirmed our AAA rating. They said:

The government has saved the bulk of the recent revenue windfalls, indicating a desire to maintain a fiscal stance supportive of reducing inflation and pursue prudent fiscal policies.

That's what we have done.

We have three policies to drive down inflation, one of which is responsible fiscal policy. The second is dealing with supply chain issues, including fixing some of our trade relationships that were broken while the former government was in office.

David Littleproud (Maranoa, National Party, Shadow Minister for Agriculture) Share this | Link to this | Hansard source

How many trade agreements did you sign?

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

You had good trade agreements; you just didn't have any trade! That was the problem!

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

The Leaders of the Nationals will cease interjecting.

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

You had ministers who couldn't get a return phone call from their counterparts; that's what you had over there—but really good agreements!

The third element is our targeted cost-of-living relief of $23 billion—cheaper medicines, affordable housing, energy bill relief, higher wages, cheaper child care. What do all those have in common? They were all opposed by those opposite. The Leader of the Opposition has nothing positive to offer the nation. Of course, he was out there saying, after the last budget, because already you have a ratings agency—he was out there talking about our AAA rating being negatively impacted. None of that has happened. He says the sky will fall in. We will continue to manage the budget responsibly. (Time expired)