Monday, 22 May 2023
Private Members' Business
We've heard it all before: no changes to superannuation, no changes to franking credits, no changes to unrealised gains, no changes to capital gains, no changes to negative gearing—no changes to tax. That is not what happened. We saw now Prime Minister Anthony Albanese make commitments like this in the election campaign, and the people of Australia have been misled. Why is it so? Because this government wants to spend $185 billion in additional expenditure over the forwards in the most recent budget. That $185 billion has to be paid for.
As much as I'm reluctant to quote Campbell Newman, the former Premier of Queensland, I will on this one. He said just last week, 'We see the RBA have their foot on the brake when it comes to the economy and inflation.' They want inflation down, as we all do. We want interest rates under control, as we all do. But this government, this Treasurer and this Prime Minister have their foot on the accelerator, and you can't have both. You cannot have both. With inflation running at seven per cent, the cost of living is completely out of control. We saw reports in the media just this morning. The humble loaf of bread—not the executive loaf; not the fancy loaf, Deputy Speaker Freelander, and I'm sure you're a humble-loaf-of-bread individual—