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

I welcome Senator Stewart back and congratulate her on beautiful Ari, whose company we've had the pleasure of since her return. Welcome back.

The Albanese government understands that cost-of-living pressures are a major concern for all Australians. We understand that it's not easy for households right now. When I look at how other countries are faring, I think Australia is positioned well to ride out this economic uncertainty and some of the shocks that we're seeing. I'm a member of the government's economic team, and we are working hard every day to make sure that Australian challenges with inflation do not become worse. We are cleaning up after the wasted decade of the previous government, which had a record of inaction or—worse—failure, including with more than 20 failed energy policies. We saw a decade of wasted opportunities and wrong priorities that left Australia with falling real wages, cost-of-living pressures and $1 trillion of debt, without an economic dividend to show for it.

We have an economic plan that is a direct and deliberate response to the challenges facing the economy right now, including cost of living. One of the very first acts of this government was to successfully argue for the minimum wage to keep pace with inflation, an outcome which has helped around 2.7 million Australians see their incomes increase. Our first budget focused on responsible cost-of-living relief that didn't put extra pressure on inflation, which is an important thing, and we're working hand in hand with the RBA as they undertake their tightening cycle on interest rates. We've got cheaper child care, we're expanding paid parental leave and we've had cheaper medicines since 1 January. We're putting resources into affordable housing and getting wages moving again. These are the concrete steps that we have put in place in just the first few months.