Michaelia Cash (WA, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Gallagher. Prior to the election last year, the now Treasurer said, 'This is a full-blown cost-of-living crisis, a triple whammy of skyrocketing costs of living, falling real wages and rising interest rates.' Yet since the election, inflation has skyrocketed to its highest levels in 30 years, wages aren't keeping up, energy prices continue to rise and rise, and, just now, as we all know, the Reserve Bank has announced their ninth rise under this government. Minister, is it correct that under Labor's full-blown cost-of-living crisis an average family with a $750,000 loan taken out prior to May will now be paying $1,470 more per month or $17,688 a year extra on their mortgage?