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

Well, I don't accept the number that Senator Hume has used in her question, for a start. I don't know where it came from and I don't know who on the opposition's benches got the calculator operating to come up with that figure. But I would say that we've taken our advice from the Treasury. You see the inflation forecasts in the budget papers, if you get to that point, in Budget Paper 1. You can see what the Treasury, who advises us, is saying about this budget and its impact on inflation—six per cent in the 2022-23 year, declining to 3.25 per cent next year and declining back into the target range in the year after that. Let's go with what the budget books say, hey?

In terms of economists, yes, you will get a range of views from economists. I just sat next to one at a lunch, and they said their view is that the budget is neutral. In fact, that's what a lot of the major banks are saying—that at worst case it's neutral. There will be opinions, but we are very confident with what we are doing. (Time expired)