Lisa Darmanin (Victoria, Australian Labor Party) Share this | Hansard source

I'd also like to take note of the ridiculous assertion by Senator Hume earlier today that Australians are poorer because of Labor's failed policies. This could not be further from the truth. Since 2022, when we came into office, this government has been working every single day to bring responsible economic management to this country and ensure Australians are better off. Under Labor, inflation is down, incomes are strengthening, unemployment is very low, interest rates are coming down and now growth is rebounding solidly as well. We've got the budget in much better shape, with the biggest ever fiscal improvement in a parliamentary term—$207 billion better than what we inherited. In our first two years we've delivered the first back-to-back surpluses in nearly two decades, and this year we've almost halved the deficit. We've lowered the Liberal debt that was left to us by $177 billion, saving $60 billion in interest costs over the next decade.

And this budget is keeping the reform wheels turning as well. We're boosting wages, boosting competition and boosting growth by banning non-competes for most workers, making sure that they can move to better, higher paying jobs. We recognise people are still under pressure and that's why our highest priority remains easing the cost of living for Australians.

I want to talk a little bit more about non-competes. Far from contributing to poorer outcomes for Australians, this is an important reform close to the hearts of many Australian workers. The Albanese government is taking action to stop unfair non-compete clauses that are holding back Australian workers from switching to better, higher paying jobs. We will ban non-compete clauses for most workers when those clauses have no justification and drag down wages.

The budget is backing workers, boosting wages and building a stronger economy. Reforming non-compete clauses is about encouraging aspiration, unlocking opportunity, lifting wages and making Australia's economy more dynamic and competitive. Right now, more than three million Australian workers are covered by these clauses, including early childhood educators, construction workers, disability support workers and hairdressers—some of whom have been taken to court by their employer for simply trying to change jobs and get a better life for themselves and their families. Research suggests that the reforms could lift wages of affected workers by up to four per cent, or about $2,500, per year for a worker on median wages. The Productivity Commission modelling suggests that these changes could improve productivity and add $5 billion, or 0.2 per cent, to GDP annually as well as reduce inflation.

I want to move briefly to the impact of the budget on Victorians. Very soon Victorians, along with the rest of the country, will be heading to the polls, and as a Victorian senator I want to look at how Victorians will fare under this budget. Victoria will be a big beneficiary. Every taxpayer will receive tax cuts of up to $268 in the 2026-27 year and $537 in 2027-28. And despite what those opposites say, those are big amounts of money for some people. And, combined with the first round of tax cuts, average Victorian taxpayers will be $2,530 better off.

Some comments were made about energy. Treasury estimates that this will directly reduce headline inflation by around half a percentage point in 2025—this is the additional energy rebates—and reduce household bills by 7½ per cent nationally, on average, when compared with going without the extension of the rebate. The Australian Bureau of Statistics has shown the energy rebates that the government has been rolling out with the states have directly reduced electricity prices. In 2024, they fell by 25.2 per cent, but would have fallen by just 1.6 per cent without energy rebates. What this means for Victoria is that all 2.5 million households will get this $150 to help with their bills, along with 223,000 eligible small businesses. This government's energy bill relief payments to Victoria in 2025-26 are estimated to total $441.4 million. The divide could not be more glaring. Labor is building Australia's future; the coalition is blocking it.