Peter Dutton (Dickson, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Core inflation, the Reserve Bank's preferred measure, is at 4.4 per cent, the highest level this year. Our core inflation is higher than that of Sweden, the UK, Norway, Canada, Japan, New Zealand, the Euro area, the US and Switzerland. Since December, core inflation has fallen in these economies, but in Australia it has increased because of Labor's reckless spending and three failed budgets. Prime Minister, why do Australians have to live in fear of yet another rate rise under this hopeless government?

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

I'm asked about inflation. I'm asked about international comparisons on inflation. The RBA governor has completely contradicted the Leader of the Opposition's declaration as part of that rhetorical question where he said that it was Labor's budgets that were having an impact. The truth is that what the RBA governor has said very clearly is that fiscal policy has been running a surplus for the last couple of years, so I would say that's been helping the inflation situation, if anything. It's a direct quote from the RBA governor. Indeed, I think the shadow finance minister, Senator Hume, has said that the things that cause inflation are not of Labor's making. That's what their shadow finance minister had to say. Of course, that's consistent with the reality of what has happened.

I'm asked about international comparisons. Australia has faster economic growth than Canada, Germany, Italy, Japan and the UK in the G7. We have a lower unemployment rate than Canada, France, Italy and the UK. We have faster employment growth than Canada, France, Germany, Italy, Japan, the US and the UK. We have a higher participation rate than Canada, France, Germany, Italy, Japan, the US and the UK, and Australia is the only one with a budget surplus along with the smallest gross debt.