Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I thank Senator Canavan for that question. The Australian government, of course, is working to strengthen the economy, to create more jobs and to help families. Helping families does involve taking cost-of-living pressures off families moving forward. The most significant thing we did in 2014 was to scrap the Labor-Green carbon tax, which has left your average family with about $550 of additional money in their hip pocket. Of course, Labor and the Greens are desperate that we stop talking about the carbon tax. And do you know? It is a past achievement of this government. The reason we have to keep talking about it is because Labor and the Greens would bring it back. Labor and the Greens would push up the cost of living again and would push up the cost of electricity because Labor and the Greens have not learnt the lessons from the election in 2013. What we also know is that the Reserve Bank for the first time in 18 months has cut interest rates because inflation remains low. We, through our budget repair effort, have given the Reserve Bank room to move. The Reserve Bank for the first time in 18 months has been able to cut interest rates, which will put an extra $750 a year into the pockets of a typical Australian family. Petrol prices are lower now on the back of lower oil prices—petroleum prices—around the world. That, of course, is working its way through the system.

The government is very conscious that there is much more work to do. We are focused on doing more work. We will be releasing soon our families package with an emphasis on access to more affordable child care. There will be more to be said about this but, generally, we are now heading in the right direction: strengthening the economy, creating more jobs and helping families. (Time expired)