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

I thank Senator O'Neill for giving me the opportunity to talk about our responsible approach to budget and economic management. This budget strikes the right balance between keeping pressure off inflation and delivering cost-of-living relief at the same time, whilst keeping an eye on the future and future growth opportunities and, at the same time, strengthening public finances. The improvements in the budget that have occurred since we took office are a result of our decision-making and our focus on being fiscally responsible.

After delivering the first surplus in 15 years, we're projecting the first back-to-back surplus in nearly two decades. We're expecting a stronger fiscal outcome in every year compared to when we came to government, saving around $80 billion in interest costs over the decade. We've found $77 billion in savings and reprioritisation since coming to government. We're banking 96 per cent of the revenue upgrades this year, keeping pressure off inflation while it's above band, and we're doing this while we're spending on unavoidable— (Time expired)