Jim Chalmers
Rankin · Australian Labor Party · Australia
“It's why we have delivered and are delivering an ambitious budget defined by reform and resilience and responsible economic management. We've been delivering for the Australian people while the member for Hume has been destroying the Liberal Party. We've been delivering for Australians. He's been destroying the once great Liberal Party.”
“I acknowledge the member for Gellibrand and thank him especially for his work on Asian capability and the big report that he has just released as the chair of the education committee. Today is obviously a very important day.”
“We don't just acknowledge those challenges; we are addressing them. That's why we are delivering more tax cuts for Australian workers, more pay rises for people on awards and the minimum wage and a fairer tax system for first home buyers.”
“It's because every time the Australian people need them to vote to help them with these real pressures that they face, they vote to make things worse rather than better. They leave this parliament today more divisive and more divided than ever. We leave this parliament today delivering for the Australians who sent us here.”
“On Friday, we learned that the deficit for the year just finished will be smaller than anticipated at budget time, and we know from the AOFM this week that our debt will be $200 billion less than the trajectory we inherited from those opposite. If those opposite had their way, there'd be bigger deficits and more debt.”
“The member for Macquarie is a wonderful representative of workers and small businesses and families in her beautiful part of Australia. Today is a really important day, as the Prime Minister said a moment ago. We are delivering tax cuts.”
The complete record
Every one of 706 lines we hold for Jim Chalmers, in date order, each linked to its source. Free to read, in full, without an account. Page 12 of 15.
“It's also in these particularly persistent structural issues in our economy, which is why we will be convening the Economic Reform Roundtable next month here in Canberra. This is all about building consensus around next steps and how we deal with these big economic challenges. We've been very grateful for the engagement that we've already seen from right around the country. I thank and pay tribute to the ministers here for the work that they're doing in engaging with stakeholders in their own portfolios. There has been a lot of engagement already. It will be a busy three days, and in the next day or so I will be releasing the agenda for those three days of the Economic Reform Roundtable. I want to make it clear that we do not expect there to be a unanimous view from everyone who comes to the roundtable—of course not!”
“No major advanced economy has achieved what Australia has—inflation in the low twos, unemployment in the low fours, three years of continuous economic growth—but we do know that there is more work to do, because the global environment is uncertain, because growth is not what we want it to be in our economy. We've got persistent structural issues in our economy and we know that people are still under pressure. That's why the primary focus of this government in the first parliamentary fortnight of the new government has been to deliver the cost-of-living relief that we promised at the election—to roll that out. It's also why we've got a big economic agenda already when it comes to skills and energy, housing and competition policy, and in other areas.”
“I thank the outstanding new member for Banks for his question. I congratulate him on his victory and on his first speech as well. This week we got a really important reminder in the inflation numbers of the progress that Australians have made together over the course of the last three years or so. What is especially heartening is that, at the same time as we have worked to get inflation down to around a third of what we inherited, it has meant that we've got real wages growing again and living standards growing again. We've kept unemployment low, we've delivered a couple of surpluses and we got the Liberal debt down. That is all important and meaningful progress.”
“But we know that there is more work to do, we know that there are still persistent structural issues in our economy, we know the global environment is uncertain, we know that growth is soft in our economy, and we know that people are under pressure. That's why we're rolling out more cost-of-living relief this month. It's why we are focused on making sure that we can make our economy more productive and more resilient and our budget more sustainable. It's why responsible economic management is a defining feature of this government, and you saw the fruits of that today in the inflation numbers.”
“It's especially welcome when you consider that Australians have made this progress at the same time as more Australians are in work, earning more and keeping more of what they earn. No major advanced economy has achieved what Australia has been able to achieve—inflation in the low twos, unemployment in the low fours and three years of continuous economic growth. At the same time that inflation is going up in the US, the UK, Canada and New Zealand, it's coming down here in Australia. We've got real wages and living standards growing again. We've delivered two surpluses. We got the debt down, and interest rates have been coming down as well.”
“Monthly inflation is now below the Reserve Bank's target range. These numbers are really welcome, and they are really encouraging. When we came to office, headline inflation was 6.1 per cent and rising. It's now about a third of that. When we came to office, underlying inflation was 4.9 per cent and rising. It's now almost half of that. These numbers are a very powerful generation of the progress that Australians have made together in the fight against inflation—quarterly and monthly inflation down, headline and underlying inflation down, goods and services inflation down, tradeable and non-tradeable inflation down. Today inflation has come down on all of the major measures, and that is a very welcome development.”
“I thank the member for Bendigo for her question and also for her focus on the cost of living, which saw her decisively returned to this place at the election. Today we did get an outstanding set of inflation numbers for the June quarter and also for the month of June. Those new figures from the ABS show that headline and underlying inflation have now both fallen to their lowest levels in almost four years. This is better than most economists were expecting, and it is better than the forecasts which were in the budget I handed down in March. Headline inflation is 2.1 per cent through the year to June, down from 2.4 per cent to March. Headline inflation has now been in the band for a full year, as the Prime Minister said. Trimmed mean inflation is 2.7 per cent, down from 2.9 per cent.”
“That's why we've seen today both underlying and headline inflation in the Reserve Bank's target band and headline inflation at the very bottom of the band. Monthly inflation is below the Reserve Bank's target band; it actually has a one in front of it in these numbers today. So I hope those opposite keep asking me about the inflation data today, because the inflation data today was very, very encouraging. We know from that question that nothing makes them grumpier than when Australians make progress in their economy together, whether it's the fact that inflation is much lower than we inherited, that real wages are growing again or that unemployment is low. We got their debt down, we delivered two surpluses and interest rates have started to come down as well. We know there's more work to do, because people are still under pressure.”
“When we came to office, inflation had a six in front of it, and it was absolutely galloping. And because of the work we've done together, because of what Australians have been able to achieve together, we have got these absolutely outstanding numbers today. They're outstanding because they are a powerful demonstration of the progress Australians have made together in the fight against inflation. I'm asked about particular elements of the new numbers today. Rent inflation has gone down. Housing construction cost inflation has gone down. Food and non-alcoholic beverages inflation has gone down. Fruit and vegetables inflation has gone down. Insurance and financial services inflation has gone down.”
“Let me get this straight. On Monday they asked us about the unemployment rate, when this government has presided over the lowest average unemployment in the last 50 years of any government. Then they asked us about Medicare, when we've just been re-elected on a platform of strengthening Medicare. And now, on a day when we get absolutely outstanding inflation numbers, they want to ask us about inflation. I'm asked in particular about food inflation. I want to make it very clear for the member for Farrer that when we came to office food inflation was running at 5.9 per cent, and now it's about half that, at 3.0 per cent. So, if the member for Farrer is unhappy about food inflation, she must be absolutely livid at the underperformance of her own government, a government that she was a cabinet minister in.”
“That's why we're rolling out more cost-of-living relief this month. It's why we're legislating help with student debt this week, and it's why responsible economic management has been and will continue to be a defining feature of this Albanese Labor government.”
“In fact, this government has been able to get inflation down while presiding over the lowest average unemployment rate in the last half a century. No major advanced economy has achieved what Australia has—inflation in the low twos, unemployment in the low fours and three years of continuous economic growth. While inflation has been coming down in Australia, it's been going up in the US, Canada, the UK and New Zealand. Inflation is down; real wages are growing again, and unemployment is low. We've delivered two surpluses; we've got the debt down, and interest rates have come down twice already this year. We know there is more work to do. We know the global environment is uncertain. We know that there are persistent structural issues in our economy, and we know that people are still under pressure.”
“Whatever the quarterly or monthly fluctuations, the direction of travel for inflation has been really clear. Both headline and underlying inflation are now back in the Reserve Bank's target band for the first time since 2021, and this progress has given the Reserve Bank the confidence to cut interest rates twice already this year. The Reserve Bank governor has said that more rate relief is a question of timing, not a question of direction. Underlying inflation in our economy is already half or almost half of what we inherited, and any headline inflation number tomorrow with a two in front of it will confirm that we have been in the Reserve Bank's target band for a full year. Unlike other countries, we've made this progress on inflation without paying for it with substantially higher unemployment.”
“I'm grateful to the member for Pearce for her question but even more grateful to her community for sending her here to represent them in this place. The member for Pearce is an absolute champion from and for the west. Tomorrow we will get new inflation numbers for the June quarter and the month of June, and they'll attract a lot of attention and analysis. But what we already know is that we have made very substantial and now sustained progress together as Australians in the fight against inflation. When we came to office, headline inflation was multiples of what it is now. It was much higher; it was accelerating, and interest rates were already rising. Inflation had a six in front of it under those opposite, and now it has a two in front of it.”
“When we came to office there were only deficits in the budget. We turned two of them into surpluses. When we came to office there was $1 trillion of Liberal Party debt.”
“Inflation was much higher and galloping. It had a 6 in front of it; it now has a 2 in front of it. We saw a substantial fall in living standards in the last quarter of those opposite. Real wages had been going down not by accident but as a deliberate design feature of their economic policy. We don't pretend that every challenge in our economy has been solved, but we acknowledge that Australians together have made substantial and sustained progressed in our economy. Inflation has a 2 in front of it now; it had a 6 in front of it under those opposite. Real wages have been growing for 18 consecutive months under this government—again, not by accident but a deliberate design feature of our economic policy. Living standards have turned around and are starting to grow again, recovering some of the losses under those opposite.”
“I say to the Australian people that unemployment is on average lower than any other government in the last 50 years. That is what I say to the Australian people. If you compare every single government of the last half-century, the government led by this guy has overseen the lowest average unemployment of any of those governments for half a century. This is precisely why the people in front of the member for Fairfax are more excited about his promotion than the people behind him, because he bowls up these absolute dollies. He's doing his best to make the former shadow treasurer look good. I'm asked about the progress that Australians have made in our economy. I invite the shadow treasurer and the House to cast their minds back to the day that we were elected in 2022. Interest rates were already going up; he forgot to mention that.”
“All of this is about recognising that, even though we've made that progress in the economy, there's more to do to help ease the cost of living, and that's what this legislation is all about. The same goes for the legislation we passed at the very end of the last term to cut income taxes two more times, next year and the year after, in addition to the tax cuts from last year. All of this help was at stake at the election just gone, but because the Albanese Labor government was re-elected, Australians will get cheaper medicines. That's what this week in the parliament is all about.”
“We've got inflation down, we've got real wages growing again, we've kept unemployment low, we've got the debt down, and we've delivered a couple of surpluses and smaller deficits for the year just finished. But we know that, even with all this progress we've made together, Australians are still under pressure. We know the global environment is still uncertain. We know we've got structural issues in our economy to deal with as well. But cost-of-living relief is at the core of everything we do. It is the same when it comes to the legislation to protect penalty rates, slash student debt, the medicines policy we're introducing this week as well, minimum wage, paid parental leave, super guarantee, cheaper batteries, prac payments.”
“In total, it will save people more than $200 million each year, so it's more hip pocket help for those who need it in communities right around the country. It builds on our record. As the Prime Minister said in 2023, we delivered the biggest cut to the cost of medicines in the history of the PBS. Now we're slashing the price of medicines once again so that people will pay no more than $25 a script; 5.1 million Australians will benefit from the legislation that's introduced in this House this week. At the same time, pensioner concession cardholders will continue to benefit from the $7 70 freeze until the end of the decade. We have made a lot of progress together, as Australians, in our economy over the past few years.”
“I congratulate the member for Whitlam on her first speech today and also on her stunning victory in her part of the world. We're all looking forward to working with you as you represent the people of the coast and inland there; it's a wonderful part of Australia. The people of Australia, on 3 May, voted for cost-of-living relief and responsible economic management, and that's exactly what they're getting from this Albanese Labor government. This week we're introducing new legislation to make medicines cheaper. I pay tribute to the Minister for Health and Ageing, the member for Dobell, the Prime Minister and others who are making this a reality. We're putting cheaper medicines into the parliament. We're making cheaper medicines law, and this will make a tangible difference for millions of Australians.”
“We've got a big agenda to deliver as a government, but we also know that there is more work to do, because people are still under pressure, the global environment is very uncertain and we've got some big, longstanding structural issues in our economy to deal with as well. We're upfront about that. We believe as a government that the best way to build on the progress we've made together and to make our economy and our budget more productive, resilient and sustainable over time is to go about that in the same consultative, methodical and, especially, responsible way that has been a hallmark of our government. (Time expired)”
“We've turned two big Liberal deficits into two substantial Labor surpluses. And the latest advice is that, when the final budget outcome comes out in September, it will show that the deficit for the year just finished is much smaller as well. I inform the House that the 2024-25 deficit is now expected to be in the low double digits. That is less than half what we expected at budget time, and it's around a quarter of what we inherited from those opposite. This is another demonstration of our responsible economic management. Inflation is down, real wages are up, unemployment is low, interest rates are coming down, we've delivered a couple of surpluses and debt has come down as well. We've made a lot of progress together as Australians.”
“That's what today's legislation to protect penalty rates and overtime was all about; it's why we're cutting income taxes three times; it's why we're increasing minimum and award wages; it's why we're increasing the super guarantee and paying it on paid parental leave; and it's why we're rolling out more cost-of-living help this month. We have made room in tight budgets for the help that Australians need and deserve, and that's because we've managed the budget in a responsible way. This has meant the biggest nominal improvement in a budget in a single parliamentary term ever. We've found $100 billion in savings. We've banked most of the upside revisions to revenue. We've got the Liberal debt down $170 billion lower than what we inherited. We're saving on interest costs.”
“I thank the member for Forde for his question, but I also congratulate him on a terrific first speech earlier today. He did his family, his party and our local community proud today—either side of Loganlea Road, which we've just funded an upgrade for. Well done. The member for Forde joins a government with two defining features: a big focus on wages and the cost of living, and a big, inseparable focus on responsible economic management. More Australians working, earning more, keeping more, retiring with more—this is our Labor government's reason for being.”
“We have picked up where we left off in the last term, delivering this cost-of-living relief. We know that the people of Australia have put their faith in this prime minister and his government. We will work hard every day to repay that faith and continue to help where we can with the cost of living, in the most responsible way that we can.”
“From 1 July, there are increases to the minimum wage and award wages, benefiting almost three million Australian workers; an increase to the super guarantee; more paid parental leave, and paying super on it for the first time; more energy bill relief; more help for people to get into a building trade; cheaper home batteries as well; paid prac for students; and also the usual increases to social security payments. In addition to all of that, we're cutting income taxes for every single one of the 14 million Australian taxpayers. This cost-of-living help was at stake in the election. It was on the ballot in the election and, if those opposite had their way, this cost-of-living help would not be rolling out into our communities, our families and our economy. They wanted higher taxes, lower wages and still higher deficits.”
“Getting on top of inflation—making sure that we could keep inflation in the Reserve Bank's target band—was a huge focus of our first term, and it will remain a big focus in our second term as well, because we know that, even with all of the substantial and now sustained progress that Australians have made together in our economy—with inflation down, real wages up, unemployment low, continuous economic growth and interest rates starting to come down—people are still under pressure. That's why today we introduced legislation that will slash student debt. I pay tribute to the education minister and the Prime Minister for the first bill of the 48th Parliament introduced today. But, as the Prime Minister and the education minister have said, this is just one of the ways that we are delivering cost-of-living help from this month.”
“It's a source of considerable pride that we say today that we have a Labor member for Menzies, and we heard another unbelievably good first speech from the member for Menzies yesterday, in common with so many of the new colleagues in this place. I congratulate him on his election in a tough seat, and I congratulate him on a characteristically thoughtful first speech in this place yesterday afternoon as well. Well done to the member for Menzies. One of the reasons the member for Menzies is here is that this government has maintained a primary focus on helping Australians with the cost of living. We know that Australians are under pressure, and this government has been all about finding the most responsible and meaningful way that we can help people with the cost of living.”
“After these changes are implemented, there will still be generous tax concessions for everyone in the superannuation system, but, for the half a per cent of people with balances of more than $3 million—remembering that the average retirement balance is about $340,000—”
“We're about strengthening superannuation, and those opposite are about weakening superannuation. For evidence of that, Mr Speaker, think about the fact that, on 1 July this year, we completed the journey to 12 per cent compulsory superannuation. That's something we're very proud of on this side of the House. So too are we proud to be paying the superannuation guarantee on government paid parental leave for the first time ever. I shout out to the minister here for the work that we did on that in the last term of parliament. Part of our responsibility to the superannuation system is to make sure that it is treated in a concessional way, that those concessions are generous and that they are also sustainable.”
“First of all, I didn't describe it the way that the honourable member has said. That's the first point. The second point is that, when we announced the policy, the expectation was that about half a per cent of people in the superannuation system would be impacted by what is a very modest change in terms of the impact on individuals, but it would make a meaningful contribution to making the superannuation system more sustainable. That remains our view. It's about half a per cent of people, and that obviously varies from fund to fund. If you think about the fund that was in the paper today—their expectation at Hostplus is that 57 members out of 1.86 million members would be impacted by the modest changes that we are proposing. As the Assistant Treasurer said a moment ago, we are the big believers in superannuation.”
“I want to remind the House that just on Sunday—not in September, not before the election, not even a few weeks ago—the member for Fairfax said on Sky, on 20 July—and I'm quoting here—'They shouldn't be taking anything off the table.' So, on Sunday, he said, 'They shouldn't be taking anything off the table.' By Wednesday, he is saying, 'We want you to rule something out.' We've already got a view on the policy issue that the member for Fairfax has asked about. We've made our views public when it comes to tax policy. Our priority is cutting taxes for 14 million Australians. We've made it clear that people will bring all kinds of ideas to the economic reform roundtable next month here in Canberra. If this government has one defining feature, it's that it cuts taxes in the context of a more responsible budget.”
“Thank you, sort of, to the member for Fairfax for the question on tax policy. As the Prime Minister reminded you a moment ago, this side of the House is cutting taxes for 14 million Australian workers. We cut taxes last year, we're cutting taxes next year and we're cutting taxes the year after, and that means an extra 50 bucks a week, on average, for Australian workers so that they can earn more and keep more of what they earn. The Prime Minister is asked by the member for Fairfax to rule something out.”
“Now, the shadow Treasurer's brain snap today makes it really clear that they would legislate higher taxes for every single Australian taxpayer. Under those opposite, as we have said, Australians would earn less and keep less of what they earn, and that is because they want to cut everything except taxes for workers. So, whatever the opposition leader says tonight, it is already very, very clear that they are about three things: higher taxes for workers, secret cuts to pay for nuclear reactors and no ongoing help with the cost of living. So this does set up a very simple choice at the election: this Labor Prime Minister and his Labor government cutting taxes and helping people with the cost of living, or that opposition leader and that coalition jacking up income taxes and making people worse off.”
“But we know people are still under pressure, and that is why there is more work to do. The cost-of-living pressures that Australians feel despite the progress we have made together on inflation is the primary motivation for the cost-of-living package which was in Tuesday night's budget. We know that the cost of living is front of mind for a lot of Australians, and that is why it was front and centre in Tuesday night's budget as well. That budget contained a coherent and comprehensive package of cost-of-living assistance—energy bill relief and cheaper medicines. We are cutting student debt. We are strengthening Medicare, because we know that more bulk billing means less pressure on families around Australia, and we have those two new tax cuts to top up the tax relief that is already flowing despite the opposition of those opposite.”
“Thank you to the outstanding member for Holt for her great question. I wanted to acknowledge more broadly that, as the government puts together its cost-of-living agenda, it's wonderful local members like the member for Holt helped us put that together, because on this side of the House we understand the cost-of-living pressures that people are under, even as we make really encouraging progress in the fight against inflation. We saw more progress yesterday in the inflation figures, which came down in a headline sense but also an underlying sense, and what that means is that as a government we are getting inflation down. Real wages are up. Unemployment is low. We are getting the debt down. Interest rates are coming down, and growth is rebounding solidly in our economy as well, so we have made a lot of progress together as Australians.”
“I thank the honourable member for her question. I also acknowledge the 104,000 taxpayers in her electorate who will get two more tax cuts because of Tuesday night's budget. I also want to acknowledge that the member for Wentworth is a frequent and considered contributor to the national debate about tax reform, and I assure her that the government's focus is on implementing the broad and ambitious tax reform agenda that we have laid out over the course of four budgets now. Obviously—and the member referred to this in her question—the tax cuts for every taxpayer are about returning bracket creep and increasing participation. We're also ensuring that multinationals pay their fair share of tax here in Australia. We're encouraging investment in important areas like housing and clean energy with our tax breaks.”
“This election is about a very simple choice: this Labor Prime Minister and this Labor government cutting taxes and helping Australians with the cost of living or that opposition leader and that coalition clown show jacking up income taxes and making people worse off. The shadow Treasurer has admitted as much today.”
“And it's now not just us saying it; it's the shadow Treasurer saying it as well. As a consequence, they would increase tax-to-GDP, they would increase average tax rates, they would give back 'no bracket creep' and they'd harm participation. This will haunt them for every single day of this election campaign because this renders anything else the Leader of the Opposition says tonight absolutely meaningless. It sets up a very simple choice in this election, and it springs from the budget we released on Tuesday, the reply we will hear tonight and what the shadow Treasurer said this morning.”
“This morning on radio and then on TV, the shadow Treasurer made a stunningly stupid admission. He said that, if those opposite win the election, they will legislate to increase income taxes for every single Australian taxpayer. As far as we can tell, this is unprecedented. It has never happened before that an alternative government has gone to the people and said, 'Elect us and we will jack up income taxes for every single taxpayer.' I can't imagine they are happy about this up the back. That's why they are pretending to read and looking at their shoes once again—because this confirms beyond any doubt that, if they win the election, Australians will earn less and keep less of what they earn. It makes it absolutely crystal clear that Australians will be worse off if those opposite win the election.”
“Thanks to the member for Gilmore not just for the question but for voting for a tax cut for every single one of her 64,000 taxpayers in that wonderful part of the world that she represents. Last night the parliament passed the government's tax cuts from the 2025 budget. Those tax cuts are now law. Because of our tax cuts, the average benefit is $50 a week, including those top-ups in the budget. This means that the first rate of tax now is the lowest that it's been in half a century. What that means for Australians is that more Australians are working, earning more and keeping more of what they earn because of this Labor government. It was part of a broader package of cost-of-living relief which was one of the centrepieces of Tuesday night's budget.”
“The first point I would make is that, if the shadow Treasurer cared about the cost of living, he wouldn't be the first shadow Treasurer in living memory to take to an election a policy to increase income taxes on every single Australian taxpayer. That's the first and most obvious point. In relation to petrol, what we did on Tuesday night from this dispatch box was to find a way to give ongoing cost-of-living relief to every Australian taxpayer. That combination of cost-of-living relief—”
“We understand that the task of responsible economic management and budget repair is ongoing. In every single one of our four budgets we've found savings, and people should expect that to be the case in the future, too, if we get the opportunity.”
“We've banked most of the upward revisions to revenue, and, because of that, we've delivered the first two surpluses in almost two decades. We've shrunk the deficit this year as well, and we're making progress. If those opposite really cared about debt, they wouldn't have left us with a trillion dollars of it. They wouldn't have left us a budget which was weighed down with rorts and waste. We inherited a big mess from those opposite and we've been cleaning it up. Because of our efforts, the budget bottom line over the years that we take responsibility for is $207 billion stronger than it was under those opposite, who promised a surplus in the first year and every year thereafter and went precisely none for nine when it came to surpluses. We've delivered two.”
“That's what it says in the budget. The interesting thing about that, from an opposition point of view, is that when we came to office we inherited that trillion dollars of debt. What we've been able to do because of our responsible economic management is—debt is down $177 billion this year compared to what those opposite left us with. And that's because we delivered two surpluses, which would have been absolutely unrecognisable to those opposite. When we came to office the budget was already weighed down with a trillion dollars of debt in a budget which was absolutely chockers with rorts and waste, to which the shadow Treasurer had made a contribution. We've gone about making sure that we manage the budget in the most responsible way. We've found almost $100 billion in savings.”
“On the first occasion when we did that, those opposite didn't support that. They pretend to care about small business, and then they hold up the instant asset write-off in the Senate, and that speaks volumes for the approach that they've taken in this place and in this parliament. So, as we get closer to the end of this parliamentary term, it looks like it will end like it began—us trying to help people with the cost of living and help small businesses, and those opposite opposing us at almost every turn.”
“Not for the first time and unfortunately not for the last time the shadow Treasurer is confused. He's confused about the instant asset write-off that has been in the parliament for eight months and is being held up by those opposite, which is in the budget. He's confusing that with any future further assistance that we might give to small business. If he cared about small businesses, he would tell his friends in the Senate to vote for our instant asset write-off. He would stop holding it up. Small business need and deserve that instant asset write-off. If they agree with us, they should have voted for it at any time in the last eight months. Once we get that passed, we can consider whatever further additional assistance small businesses might require. In addition to that, we are providing energy bill relief for small businesses.”
“Now, this is the worst possible time to risk the progress that Australians are making together in our economy. Those opposite say that they want to turn back—they want to go back to higher and rising inflation and no help with the cost of living. They want to go back to stagnant wages, deliberately suppressed as a design feature of their economic policy architecture. We've deliberately taken a different approach to wages and incomes and tax cuts. We've done that proudly in all four of our budgets and especially in the budget last night. These tax cuts are an important way that we can help people with the cost of living. They're modest in isolation but substantial when combined with all of the ways that we are helping Australians with the cost of living. And every Australian should know—”
“That's all about making sure that more Australians earn more and keep more of what they earn. In the suburbs like the ones that the member for McEwen represent—the suburbs, towns and regions of cities of this country—nothing could be more important than helping people earn more and keep more of what they earn for all of the reasons that my ministerial colleague ran through a moment ago. This does set up a very substantial contrast at the next election between this side of the House, helping Australians with the cost of living and cutting taxes for every Australian taxpayer, and those opposite, who have a secret agenda for cuts, which will make Australians worse off. As the minister said a moment ago, nothing could be clearer in this election: if they win the election, he will cut, and Australians will pay.”