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

I thank Senator Colbeck for the question. Whilst those opposite raise concerns about the level of inflation and spending that are occurring now in the economy, I would like to remind them that in the March budget before the election in 2022 the coalition spent $40 billion when inflation was about to reach a peak of 6.1 per cent.

Whilst we've seen inflation moderate, we've found savings, we've got the budget in better shape, we've reduced debt so that we've saved the Australian taxpayers $80 billion in interest payments and we've turned significant Liberal differences into Labor surpluses. When we have supported additional spending, it's been very modest as inflation moderates. In fact, in this last budget, I think the net spend was in the order of just over $11 billion, when inflation is half of what we inherited.

We've been finding savings, paying down debt, turning deficits into surpluses, finding savings and reprioritising across the budget—