Angus Taylor (Hume, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

As real disposable incomes have gone backwards, many Australians are not just feeling poorer; they are poorer. This is a direct quote from the final report of the Senate Select Committee on the Cost of Living: following a two-year inquiry, the report confirms that Australians are 'worse off' under the Albanese Labor government. In the 2½ years that Labor has been in power, our standards of living here in Australia have collapsed more than any other advanced country. We are at the back of the pack. Why? Let me read another direct quote from the report:

… the Labor Government's unnecessary and undisciplined spending continues and perpetuates the cost of living crisis.

They have made the cost-of-living crisis go on for longer than it needs to. This demonstrates what we all know: that Australia's inflation crisis is home grown, and it's hardworking Australian families who are paying the highest price. Since Labor came to office, a typical Australian family with a mortgage is paying an extra $35,000 from after-tax income in repayments, electricity prices are up $1,000—that's despite the $250-cut promise—and, whether it's the food they buy from the supermarket or the insurance they pay on their homes, their vehicles or the everyday services that they need, it's all costing a whole lot more under Labor. This government is asleep at the wheel, talking about plans for plans and continuing to spend, spend, spend.