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

My question is to the Prime Minister. The Albanese Labor government has created a cost-of-living crisis, a gas crisis, a crime crisis, a rent crisis, an energy crisis and a housing crisis. Living standards have suffered the biggest collapse in the developed world. Australian households have been in household recession for more than 700 days, the longest on record. Prime Minister, why are Australians paying the price for Labor's economic incompetence?

Government Members:

Government members interjecting—

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

There was far too much noise during the asking of that questions. If members on my right interject they won't be here to hear the answer. It's highly disorderly. The Prime Minister has the call.

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

I thank the shadow Treasurer for his very tight question there. I'll try to go through some of the items. Our economy, of course, is growing, unlike most of the advanced economies in the world. We haven't had a single quarter of negative growth; we've continued to have positive growth. Inflation is down to 2.4 per cent, down from the six per cent that we inherited. Wages are up. Inflation down, wages up. As a result, indeed, pay packets are growing at the fastest pace since 2012. It's very important.

Of course, at the same time, we have delivered tax cuts for every single taxpayer—opposed by those opposite—because we want people to earn more and we want people to keep more of what they earn. Those opposite want people to work longer for less. Unemployment is, of course, low. We have had the fastest employment growth, faster than any of the G7 nations, and we're really proud of that. On our watch, 1.1 million jobs were created, more than any government since Federation.

You would think, at a time where we have had global economic difficulties and global inflation having had an impact around the world, that when you piece all that together—the economy growing, inflation down, unemployment low and wages up—there would be some support from those opposite.

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

Why is everyone worse off?

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

The shadow Treasurer has asked his question.

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

But, in fact, it has happened in spite of their opposition. Whether it was energy bill relief, cheaper child care, cheaper medicines, extra bulk-billed GP appointments, free TAFE, the largest rent assistance increase in 30 years or student debt relief for three million families, they've opposed every single one of those cost-of-living measures. Indeed, if they had their way, Australians would be $7,200 worse off, on average. Australians know the great risk of this mob—it is the $350 billion in cuts that they've said they will make, but they won't tell you what they will be, and that's before they make room for their $600 billion nuclear fantasy. I thank the shadow Treasurer very much for his question.