House debates

Monday, 4 November 2024

Questions without Notice

Cost of Living

2:26 pm

Photo of Angus TaylorAngus Taylor (Hume, Liberal Party, Shadow Treasurer) Share this | | Hansard source

My question is to the Prime Minister. For how many months have Australians suffered under Labor's household recession?

Photo of Milton DickMilton Dick (Speaker) Share this | | Hansard source

I give the call to the Treasurer.

Photo of Jim ChalmersJim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | | Hansard source

If the shadow Treasurer really cared about living standards, he'd support our efforts to ease the cost of living. If he really cared about living standards, he wouldn't have left behind real wages falling very substantially. We've now turned that around and real wages are growing again. If he cares about per capita circumstances and if he cares about living standards in our economy, he should be supporting our efforts to clean up the mess that those opposite left behind.

When we came to office, inflation had a six in front of it. It now has a two in front of it. When we came to office, real wages were falling 3.4 per cent. They're growing again. These all go to the very core of the shadow Treasurer's question about living standards.

If he wants to use the per capita measure then he should acknowledge that the per capita measure has gone backwards around one in every three quarters since the data began. It actually went backwards four times under former prime minister Morrison. They also recorded—

Government Members:

Government members interjecting

Photo of Milton DickMilton Dick (Speaker) Share this | | Hansard source

Order. Members on my right—the member for Spence—the shadow Treasurer is entitled to raise a point of order and he's going to be given that opportunity now.

Photo of Angus TaylorAngus Taylor (Hume, Liberal Party, Shadow Treasurer) Share this | | Hansard source

It's relevance, Mr Speaker. It's a very specific question. For how many months have Australians suffered under the Treasurer's household recession?

Photo of Milton DickMilton Dick (Speaker) Share this | | Hansard source

The Leader of the House.

Photo of Mr Tony BurkeMr Tony Burke (Watson, Australian Labor Party, Leader of the House) Share this | | Hansard source

Mr Speaker, the Treasurer has gone to the exact dataset that's referred to in the question to compare and contrast. You couldn't be more directly relevant.

Photo of Milton DickMilton Dick (Speaker) Share this | | Hansard source

Order. The member for Hume. I'm just going to make sure the data that the Treasurer is reading into the record is relevant to the question. It is not an opportunity for the Treasurer to simply talk about the opposition. It's not an opportunity for the Treasurer to talk about alternative policies. In the answer he can compare and contrast with the data he's been asked about the economic question that he is referring to. I will listen carefully—

Order. I don't know what he's going to say, so we're going to have to listen. The Treasurer has the call.

Photo of Jim ChalmersJim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | | Hansard source

I'm very specifically referring to the exact dataset the shadow Treasurer is asking me about. I've pointed out to him that GDP per capita went backwards for consecutive quarters under those opposite. We have acknowledged, in a number of different ways—from this dispatch box and outside this parliament—that growth in the Australian economy has been very soft and households are doing it tough. People are doing a tough. The point I made at the start of my answer and that I want to reiterate here is that if you care about per capita living standards in this economy, you have two options. One option is to try and help people where you can; that's our approach. The other option is to oppose wage increases and cost-of-living help, which is the approach of those opposite.

In summary, the GDP measure of growth in our economy has been weak under governments of both political persuasions; we acknowledge that. The difference is we are doing something about it. This goes right to the core of the question. On the weekend, when we said that we were going to help students and graduates with student debt, those opposite said they opposed it. The reason they said they opposed it was because it didn't apply to everyone.

Photo of Milton DickMilton Dick (Speaker) Share this | | Hansard source

The Treasurer was not asked about the education policy. You will need to make it directly relevant to the question you were asked.

Photo of Jim ChalmersJim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | | Hansard source

Yes, it is directly relevant because it goes to living standards and to helping people who are doing it tough. The point I am making is this: when we tried to give a tax cut to every taxpayer, they said it was too broad. Now that we are helping with student debt, they say it is too narrow. Make up your mind. They need to decide: do they care about per capita living standards or not? If they do, they should support our efforts to help people with the cost of living. (Time expired)