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

My question is to the Minister representing the Treasurer, Senator Gallagher. Tackling the inflation challenge while supporting Australians with cost-of-living pressures, including by tax cuts for all taxpayers, energy bill relief and cheaper medicines, has been a core focus of the Albanese Labor government since taking office 2½ years ago. The government's approach is in stark contrast to that of the Liberals and Nationals, who have opposed cost-of-living measures at every opportunity. Can the minister please update the Senate on the government's work to fight inflation and how this is strengthening Australia's economy?

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

I thank Senator Walsh for the question and really welcome a question on cost of living, as it is the most important issue facing every Australian. The Albanese government has been working since being elected to office to turn around the mess that we inherited from those opposite. We have brought inflation to almost a third of what we inherited.

I know you don't like hearing this. I know you don't like hearing that living standards were sliding, living standards were going back, inflation was going up, wages were stagnating and people were being left behind. What we have now is inflation coming down, wages going up and low unemployment, which is a fantastic outcome—to keep people in work, earning wages and having those wages grow for the first time in over a decade, because we know that those opposite sought to restrain any wages growth. Nothing made them happier than people not getting a pay rise. Nothing made that lot happier than making sure the working people in this country didn't get a pay rise. It was a key feature of their economic architecture.

We've brought inflation down. We've grown jobs by 1.1 million jobs in this term of government. We have delivered surpluses. We have lowered the Liberal debt we inherited by $177 billion, and we have lowered interest payments on that debt by $70 billion.

Opposition senators interjecting—

I know they're shouting because they don't want to hear it. They don't want to acknowledge that we have cleaned up the mess that we inherited from them. We have cleaned up the budget. We have improved the debt position. We've lowered the interest costs on that debt. And we have, at the same time, found room for cost-of-living help for every Australian.

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

Senator Walsh, first supplementary?

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

The Albanese Labor government's economic strategy has seen Australia navigate a narrow path of keeping Australians in jobs while fighting inflation and continuing to provide the cost-of-living relief that Australians need. Can the minister please outline the benefits of having more Australians in work, earning better wages and keeping more of what they earn?

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

I thank Senator Walsh and acknowledge the long career that she has had in making sure that workers get fair pay rises and good wages growth, because it's important for the economy—again, something that those opposite sought to ignore and keep a lid on. We've made substantial progress on inflation. I know those opposite hate hearing that as well. We've got wages growing again. Those opposite hate hearing that. They really hate hearing that! In fact, they hate it so much they've already told us what they would do if they got into government: they would make sure that wages growth slowed. We've got unemployment with a four in front of it, and we've seen the creation of more than a million jobs.

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

Senator Hume, the running commentary needs to stop!

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

Now, there was a time in this country where the opposition and government would acknowledge the importance of work and would acknowledge the importance of people being in work. One point one million jobs—never achieved in one term of government before. And those opposite can't stand it. (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

The Albanese Labor government delivered tax cuts, strengthened Medicare, supported older Australians and invested in the energy transition, but the Leader of the Opposition has confirmed he has a plan to deliver $350 billion of secret cuts if elected. Why has the Albanese Labor government taken a different approach?

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

We've seen a bit over the summer of what Mr Dutton offers the Australian community, haven't we? We know that he's going to break the budget with $600 billion nuclear reactors, dotted around the country; we know he's going to make $350 billion worth of cuts in order to part-pay for those nuclear reactors around the country; and, in addition to that, apart from cutting Medicare, cutting pensions, cutting veterans' affairs and cutting veterans getting access to compensation, he's going to ensure that every employer can take themselves, their family, their friends, their potential clients, their clients and their clients of a friend out to lunch and claim that back off every taxpayer in this country. Every taxpayer will be paying their taxes to fund Mr Dutton's long free lunch policy. That is the choice at this election—a crazy scheme that will break the budget— (Time expired)