Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

Inflation is a real challenge for working families dealing with rising mortgage rates—12 rises in a row—dealing with rents going through the roof and dealing with petrol prices, grocery prices and what is happening with childcare costs, and those opposite say that inflation is a fairytale, that it does not exist. They say that inflation is a charade, that it does not exist. Well, we have news for those opposite. We have news for the Liberal Party. Inflation is real not just for businesses; it is real for working families, which demands therefore a responsible approach. That is why as we embark upon this budget our first responsibility is to fight the fight against inflation, and we will not resile from that. We will make sure that those who are impacted by this budget know that the overall long-term wellbeing of this economy is being properly attended to. When we assumed office, we inherited an inflation rate running at 16-year highs.

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