Jana Stewart (Victoria, Australian Labor Party) Share this | Hansard source

We know on this side of the chamber that household budgets are under real pressure and real strain right now. We know that, broadly speaking, cost of living is front of mind for lots of Australians. That is why it is our No. 1 focus, too, as the Albanese Labor government. Australians and certainly the people in my home state of Victoria are concerned about the cost of living. They're concerned about their ability to keep a roof over their heads and put food on the table. We know that these cost-of-living pressures are felt right around the country. That's why on this side of the chamber we believe in supporting all Australians, not just some. That's why we're supporting hardworking Australians to earn more and to keep more of what they earn. As of yesterday, all 13.6 million Australian taxpayers have received a tax cut, thanks to the Albanese Labor government, and I will come back to that a little later.

There are a number of things that go to reducing the pressure on household budgets right now. We are providing energy bill relief, with $300 credited towards household energy bills over the next year and an additional $325 for small businesses. We are freezing the cost of PBS medicines for every Australian. We have supported a third consecutive pay rise for 2.6 million workers. We've supported funding to build more homes in every part of this country. We are working to deliver a future made in Australia. The list goes on. Labor is supporting Australians with cheaper child care, fee-free TAFE and—in the biggest ever investment—the expansion of bulk-billing as of 1 July. Families can also access an extra two weeks of paid parental leave as of 1 July. All of this is part of our longer-term economic plan: helping Australians right now, working to bring inflation down and supporting women's economic participation.

I said I would come back to tax cuts. As of yesterday, the average Australian, earning $73,000 a year, got a tax cut of $1,504. That is $804 more than under Scott Morrison's plan. These tax cuts will ensure that hardworking Australians earn more and keep more of what they earn. We know that tax time can be stressful and complicated, and we know that folks are busy juggling multiple things at any one time. So, we've automatically applied the tax cuts so that Australians don't need to take any action. You will just get extra pay, thanks to the tax cuts. That's what the Albanese Labor government believes in. We believe in supporting Australians and in making life better for everyone.

That is especially true for Australian women. We know that our cuts support women, who are overrepresented in the low- and middle-income tax brackets. Our tax cuts will help women keep more of their hard-earned money. All 6½ million women taxpayers in Australia are receiving a tax cut this year. The average tax cut for women will be around $1,650. That is $1,650 of hard-earned money that women taxpayers can now keep in their pockets. We know that 90 per cent of women taxpayers will receive a bigger tax cut this year than they would have under Scott Morrison's plan. It comes as absolutely no surprise to anyone that almost every woman in Australia is better off under an Albanese Labor government. It's clear from our budget that women are absolutely a priority for our government, whereas those opposite have neglected and underinvested in women.

We also support younger Australians. Our tax cuts are supporting young people to thrive. Young Australians are doing it tough, and we're committed to helping them. All 1½ million Australians aged between 18 and 24 received a tax cut yesterday, with an average of $1,007.