Senate debates

Tuesday, 5 December 2023

Questions without Notice

Cost of Living

2:55 pm

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

(—) (): Our strategy has been welcomed by a range of organisations, including the OECD, the IMF, Deloitte, Fitch and Westpac, as being an approach which does not add to the inflation challenge but, indeed, is putting downward pressure on it, as I outlined in my first answer. It's also important, of course, to know that we have created hundreds of thousands of new jobs. We've got an unemployment rate with a three in front of it, the gender pay gap at record lows, the participation rate at a record high, business investment up and industrial disputes down. We've got a surplus that we've delivered. We didn't just say we would do it; we actually delivered upon it. These are the decisions that we have taken that prove that inflation has peaked, and it is moderating. We are pleased to see this. There's more work to do, obviously, but we are absolutely determined to ensure that our decisions support putting downward pressure on inflation. (Time expired)

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