Michael Forshaw (NSW, Australian Labor Party) Share this | Hansard source

Thank you very much, Mr Deputy President—I will do that. Throughout that entire period of time, what did you do with the surplus? You handed it out largely in tax cuts to those people who did not need it, when you could have actually addressed some of the real issues affecting low-paid workers and pensioners. But, no, you bought your way to winning election campaigns by massive tax cuts, generally just before the election occurred.

The previous government left us with high interest rates, interest rates that had gone up 10 times in a row under your government. It went up 10 times in a row under the previous government. The only time it has decreased on the last 12 occasions that it has been considered by the Reserve Bank was at the last decision, made a couple of weeks ago. High interest rates, inflation that was on a runaway path, and you left the Labor government with the situation of having to bring down a budget, its first budget, in those economic circumstances of higher interest rates, the prospect of continuing high interest rates and the prospect of increasing inflation affecting food prices, rents and so on. Those are the very things that affect pensioners and low-income earners the most. And the opposition has the hide to come in here, attack us and put forward a proposal just off the top of the head to introduce a private member’s bill to increase the pension by $30 a week. You do that in the first 10 months of a Labor government when you sat around in this building for 12 years in much better economic circumstances and did not even consider it; not on one occasion did you actually consider having a proper review of the entire system of pensions, which is what the current government has set in train.

The opposition has the hide to get up here and talk about what we supposedly have not done for pensioners. Pensioners know that under a Labor government, with the increases that were in the previous budget—and we would like to do more—their future will be better. (Time expired)