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

I thank Senator Walsh for the question. I can, and thank you for the question on the budget. We understand that the rising cost of living is hitting a lot of Australians hard. Australians with mortgages and Australians who rent are facing spiralling housing costs, as are groceries and prices for other services as well. Many Australians are struggling right now.

That's exactly why the budget was carefully calibrated to take pressure off the cost of living for average Australians, rather than adding to it. And the centrepiece of our second budget was the $14.6 billion cost-of-living package. This budget provides responsible relief to Australians that need it most and undertakes some long overdue structural reforms that will set this country up to be fairer and more equal. It strikes the right balance between restraint and targeted cost-of-living relief, sustainably funding the services Australians depend on now and into the future and positions Australia to make the most of new opportunities.

Our policies to ease cost-of-living pressures are expected to directly reduce inflation by three-quarters of a percentage point in 2023-24. In terms of those cost-of-living measures, there's the record investment in bulk billing, supporting 11.6 million eligible Australians to access a GP with no out-of-pocket costs; the cheaper medicines via changes to pharmacy maximum dispensing quantities, which will reduce the cost of medicines by up to half for at least six million Australians—you'll be hard pressed to find an Australian who wants to pay more for their medicine—and our energy price relief plan, which is up to $3 billion in electricity bill relief through the Energy Bill Relief Fund to take pressure off households and small businesses in partnership with state and territory governments. This will benefit more than five million eligible households and one million eligible small businesses. Plus, we are providing assistance to the most vulnerable Australians with increases to payments. (Time expired)