Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Farrell. The Albanese government recognises that many Australians are doing it tough, feeling the pinch of rising costs as a result of global challenges. Can the minister update the Senate on the Albanese government's cost-of-living relief measures to support Australians who need it most?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Walsh, because she knows firsthand some of the problems that her constituents in Victoria are facing with cost-of-living issues. We know that many Australians are doing it tough due to the economic mess left to us by the former Liberal-National government. Our government has taken a responsible approach to budget management, enabling us to target cost-of-living relief and long-term investment in the Australian people while easing inflationary pressures by half a percentage point.

We've reformed childcare subsidies to better support Australian families. The ABS has confirmed that, without these reforms, childcare prices would have risen by 6.7 per cent. We're tripling bulk-billing incentives, benefitting 11.6 million Australians, and we're delivering cheaper medicines for millions of Australians. We've boosted income support payments to ensure that there's a safety net for every Australian. We're building more affordable homes, making home ownership more attainable and addressing the housing affordability crisis. We're supporting new parents through expanded parental leave, ensuring families have the resources they need during this crucial time. We've created more than 560,000 jobs since we took office—a record for any new government in this country.

In the face of global uncertainties, our fiscal strategy is not just about economic numbers; it's about real-life impacts on households. We are committed to ensuring that every measure we implement brings real relief to Australians, helping them navigate these extremely challenging times.

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

Senator Walsh, a first supplementary?

Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

In just the past two weeks, the government has delivered another initiative to support the health and wellbeing of Australians. This significant announcement forms the largest investment in bulk billing in the last 40 years and will no doubt make it easier for millions of Australians to see a doctor. Can the minister inform the Senate of these changes and how Australians will benefit?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Walsh for her first supplementary question. In the past two weeks, the Albanese government has once again demonstrated its commitment to the health and wellbeing of Australians. We've tripled bulk-billing incentives, ensuring that 11.6 million Australians, including children, pensioners and other concession holders, can gain access to essential medical services without the burden of out-of-pocket costs. This initiative is not just about health. It's a strategic fiscal measure designed to take pressure off inflation. In essence, every decision we make, every policy we implement, is designed to provide cost-of-living relief for Australians while not making the inflation challenge any worse. These measures, taken together, are helping to shield Australians from global economic pressures while making smart and targeted investments for the long-term— (Time expired)

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

Senator Walsh, second supplementary?

Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

As you've outlined, Minister, the Albanese Labor government has delivered relief to Australians through reducing the cost of energy bills, reducing the cost of child care, reducing the price of hundreds of thousands of medicines and scripts and making it easier to see a doctor. Can the minister inform the Senate about any independent analysis of how much worse off Australians would be without the Albanese government's energy assistance package?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Walsh for her second supplementary question. The global disruption, particularly in oil markets, is posing a significant inflationary challenge. Our government's targeted measures, such as our energy assistance, are designed to shield Australians from these global pressures. The ABS has confirmed that, without the action taken by the Albanese Labor government, electricity prices would have risen by 18.6 per cent in the September quarter. This action, of course, was opposed by those opposite, the same parties who failed us on energy policy time and time again and hid energy price rises—

Opposition Senators:

Opposition senators interjecting—

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

yes, that's what you did—leaving us to clean up the mess. Our fiscal strategy is not just about immediate relief but about long-term stability. By implementing measures that directly counteract global pressures, we're ensuring that the cost— (Time expired)