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

It does, Senator McKenzie; if you look at the data, it does. We are seeing a return to real wages growth and we are seeing near-record levels of low unemployment. When we look at the budget, we see that our gross debt is lower, our real spending growth is lower and inflation is moderating across the economy.

We are not complacent, though, and we recognise that people are still doing it tough. We've got challenges facing our economy, with global uncertainty slowing growth, and we know and recognise those persisting cost-of-living pressures that exist across households right across Australia. Our budget will be one that balances the fight against inflation with the need to grow our economy; it will look at continuing relief from cost-of-living measures without adding to inflation; it will of course have those tax cuts rolling out from 1 July; and it will be looking at the opportunities, whether it be in energy transmission, human capital or the care economy, with a focus on investment for a new generation of growth and prosperity.