Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

I move:

That the Senate take note of the answers given by ministers to questions without notice asked by Opposition senators today.

Twelve months ago, Jim Chalmers, we thought, started work on this year's budget, which was delivered last night. The budget is delivered in the House of Representatives every May every year. Jim Chalmers, as the Treasurer, had 12 months to prepare for last night's budget—12 months to think how Prime Minister Anthony Albanese, how Treasurer Jim Chalmers and indeed how Labor senators would respond to the cost-of-living crisis that is crippling our economy, as well as mortgage stress, which is crippling the experiences and the savings of Australian families, and indeed how they would respond to the 27,000 business insolvencies that have taken place under almost three years of Labor. And when thinking about how he would respond to this disastrous set of economic experiences being felt by people in their homes and by small-business owners, Labor's response was 70c a day sometime next year. That is the depth of care and consideration that this Labor government has put to the issues of falling living standards and falling productivity levels. That is the extent of Jim Chalmers's creative thinking. That is the extent of Anthony Albanese's economic experience: 70c a day, to be delivered sometime next year.

Senator Hume's contribution a moment ago was absolutely right: this is an election bribe. It does nothing to tackle tax reform in this country. It does nothing to tackle the productivity challenge we face in this country. And of course it does nothing to tackle the collapse in living standards that Australians have experienced and will continue to experience for years ahead of them. It is not a budget that delivers even the closest resemblance to anything that can be described as sound or responsible economic management, and it certainly is not a plan that tells Australian families and Australian businesses that their standard of living is on the way up instead of on the way down.

Labor's fourth budget is a plan they hope will get them across the line on 3 May, 10 May or 17 May. It is most definitely not a plan about how this country can keep its head above water for the next three years and for the next 10 years. It's a shameful exercise by Labor, on the eve of the election, to try to hoodwink Australian voters into thinking that a vote for Labor is a vote for the future. A vote for Labor is a vote for Jim Chalmers's future; there's no doubt about that. A vote for Labor might actually be a vote for Anthony Albanese's short-term future; there's no doubt about that. But it is absolutely not a vote that anyone should be handing to Labor if they care about the future direction of this country.

In just three short years—well, three long years, if you've been a mortgage holder suffering mortgage stress or if you've been a small business that's been forced into insolvency—Labor has ruined the country and has ruined the economy. You don't have to believe me; you just have to look at the data. The OECD says Australian living standards have slipped. Regulators say small business insolvencies have peaked at 27,000, and more is expected. The RBA provided data to me just last week saying that mortgage stress in this country is up. People should not risk their vote at this election on Labor.