Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

I rise with some solemn, sad and disappointing news: Labor's first budget will make Australian families poorer. The National Australia Bank's consumer sentiment survey found that the cost-of-living hit across essentials like groceries, fuel and bills will add a whopping $2,040 extra to family budgets before Christmas alone. Just this week, Treasurer Jim Chalmers has conceded that we do have falling wages. Australian families will wake up tomorrow being poorer than they are today.

Food bills are up, mortgage expenses are up and petrol is more expensive than it was three months ago. In the last three months, dairy and eggs are up by nine per cent; bread is up by almost five per cent; house and cleaning products are up by 16 per cent; and beef products are up by 14 per cent. After almost six months, Labor has yet to show us a real plan about how to deal with power prices, which are set to go up by at least 35 per cent next year alone. There is a tsunami of cost-of-living pressures facing Australian families, and Labor's first budget will not provide any immediate relief. Tonight, Labor's test is to show how Australian families will not be poorer.

Almost six months ago, the Labor Prime Minister said that no-one would be left behind, because we should always look after the disadvantaged and the vulnerable. He went on to say—he went on to promise—that no-one will be held back, because we should always support aspiration and opportunity. Tonight, we will discover how much poorer Australian families will be after Labor's first budget.