Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

The motion that we're discussing this afternoon reads:

The failure of the Government to categorically rule out changes that limit the use of negative gearing or franking credits, and changing the tax treatment of the family home, demonstrating that the Albanese Labor Government cannot be trusted to not impose more taxes on hard working and aspirational Australians.

At the last election Australians went to the ballot voting on many issues, but central to the voting decision of many Australians was a list of promises that had been made by now Prime Minister Anthony Albanese: a promise to provide energy relief; a promise not to increase taxes; a promise to deliver greater transparency and integrity; and promises on superannuation.

But, as we begin this new parliamentary year in 2024, Australian voters have been reminded in the most graphic of ways that these promises now lie in tatters. It might be the Chinese year of the dragon, but it's the political year of broken promises led by Labor and Prime Minister Albanese. I draw the attention of my coalition senators to the presence of some Labor senators: Senator Polley from Tasmania and Senator Grogan from South Australia. What do we know? We know that the most recent decision to change a position, to break a promise, was unanimously endorsed by the Labor government, by the Labor cabinet, by the full ministry and by the caucus. So this is not just about the broken character of Prime Minister Albanese; this is about the broken character of every member of the Labor Party in federal parliament and, indeed, of the whole Labor Party organisation.

A promise to reduce energy prices by $275—abandoned. A promise to deliver a plan to lower interest rates—abandoned. Australians are now having to live with a cumulative effect of 12 interest rate rises. They are living with energy costs. Gas is up by 28 per cent. Electricity is up by 18 per cent in just 15 months. Anthony Albanese gave Australians a clear commitment.