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

Inflation is moderating. It continues to moderate. That is what the bank says in its statement on monetary policy. It's what the Treasury forecasts say. The opposition are again talking out both sides of their mouths, not wanting to spend but then asking, 'What's your actual plan?' We have delivered tax cuts for every taxpayer. We've halved inflation since coming to government. We've got record jobs growth. We've doubled wages growth, and do you know what? We've—and this one must really hurt those opposite—turned significant Liberal deficits into two Labor surpluses. That is what we are doing. The bank has acknowledged that running surplus budgets is helping in putting downward pressure on inflation. We inherited inflation with a six in front of it. Not every taxpayer was getting a tax cut. We've turned all that around, and we are delivering surpluses at the same time.