Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator O'Neill for her supplementary question. Yes, I can. The IMF's recent statement confirms that the Albanese Labor government's budget was responsible, right for the time and readies Australia for the future. This is a ringing endorsement of the government's approach to responsible economic management. The IMF states that the government's near-term fiscal restraint will support monetary policy in addressing demand pressures. This is an endorsement of our fiscal strategy, which puts a premium on restraint. As a result of our spending discipline, payments will fall in real terms over the next two years and real spending growth will average just 0.3 per cent over the forward estimates. The October budget introduced responsible spending measures to provide cost-of-living relief, alleviate skill shortages, promote productivity growth and facilitate the climate transition. The IMF notes that the budget's streamlining of spending should help avoid adding to aggregate demand pressures in the economy.