Michaelia Cash (WA, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Gallagher. Prior to the election last year, the now Treasurer said, 'This is a full-blown cost-of-living crisis, a triple whammy of skyrocketing costs of living, falling real wages and rising interest rates.' Yet since the election, inflation has skyrocketed to its highest levels in 30 years, wages aren't keeping up, energy prices continue to rise and rise, and, just now, as we all know, the Reserve Bank has announced their ninth rise under this government. Minister, is it correct that under Labor's full-blown cost-of-living crisis an average family with a $750,000 loan taken out prior to May will now be paying $1,470 more per month or $17,688 a year extra on their mortgage?

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

I thank Senator Cash for the question. The senator is correct that the Reserve Bank, at 2:30 today, increased interest rates by 25 basis points to 3.6 per cent. It's the 10th interest rate increase since they began in May 2022, prior to the election, when we entered the tightening cycle because of what was happening with the inflation challenge. I do not accept the proposition put by Senator Cash that this is something that has occurred since the election. It was started before the election. The issues that have led to the tightening cycle, which have been impacted by some of those global factors—which I think we all accept—started before the last election. The cost of living is the real issue facing households. It's good that we've come to it, because the cost-of-living pressures are real on households. That's why the government has been making some difficult decisions around the cabinet table, because of the difficult decisions people are making around their kitchen table. That is why we have energy power bill relief coming in the budget to deal with it—that you opposed! So don't you dare sit here and cry crocodile tears about the cost-of-living crisis—

Opposition Senators:

Opposition senators interjecting—

Sue Lines (President) Share this | Link to this | Hansard source

Order! Minister, please resume your seat. Order! Minister, please continue.

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

You cry crocodile tears about your concern for a cost-of-living crisis when you oppose and have opposed the sensible measures that we put in place to assist households with some of those increases in power bills. Do you remember that? Well, we won't let you forget it! As those bills come in, we will be reminding people that you voted against any support for cost-of-living relief in households across Australia.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Cash, a first supplementary?

Michaelia Cash (WA, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

Minister, won't Labor's $45 billion in extra spending make inflation worse, while your productivity-sapping industrial relations sabotage agenda will make business weaker? Why are your government's policies making a difficult situation worse?

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

Senator Cash clearly hasn't read the budget papers. There are a couple of things. The funds have been factored into the budget and the forward estimates, and the inflation forecasts are also there. So the answer to that is no. There are no surprises here.

Senator Cash, there are no surprises here. Why are you putting in place laws that make sure that vulnerable workers can get decent pay rises? That is now the offence of this government--that it's putting in place laws that support affordable, sustainable wage increases for the most vulnerable workers. We know you're opposed to it. We just lived through 10 years of your deliberate design feature of your economic architecture being wage stagnation. Investments in the funds are about driving jobs, investment in supply chains and dealing with the housing crisis, and you're opposed to every single one of those measures. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Cash, a second supplementary?

Michaelia Cash (WA, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

Minister, given that Australians can expect further rate rises in the months ahead, why hasn't the government delivered the cost-of-living relief it promised last year for Australians to help with their energy bills? Why is the Albanese government all talk but no fix when it comes to addressing the cost-of-living pressures that Australians are facing?

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

I fear that someone who didn't like you wrote that question, Senator Cash. How could you possibly put that to us when you oppose the billions of dollars we want to flow through the budget to give households energy bill relief? It is staggering those who opposed it in December, and we will make sure that, all the way to the next election, everyone knows that we came to the parliament and said, 'Here's $1 ½ billion we would like to distribute to households and businesses across Australia to assist with some of the increases in energy prices,' and the 'no-alition' said no. It said, 'You know what, no, you don't deserve it; you don't deserve this cost-of-living relief.' Then you have the hide to come in here and ask about what we're doing about cost-of-living relief on energy bills. Well, thank you very much for that dorothy, Senator Cash. (Time expired)

Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Link to this | Hansard source

I ask that further questions be placed on the Notice Paper.