Rob Mitchell (McEwen, Australian Labor Party) | Hansard source

I move:

That this House:

(1) notes that on Monday, 1 July 2024, every Australian taxpayer will receive a tax cut; and

(2) acknowledges the Government's number one priority is to tackle the cost of living pressures facing Australians by ensuring they earn more and keep more of what they earn.

Today is the day—1 July 2024. Today, the Albanese Labor government's cost-of-living tax cuts come into effect, providing tangible cost-of-living relief to every single Australian taxpayer. Let's look at the facts. All 13.6 million taxpayers will receive a tax cut, and 2.9 million more taxpayers will receive a tax cut than would have under the coalition's failed plan. Eighty-four per cent of taxpayers—11.5 million people—will now receive a bigger tax cut under this government than they would have received previously. Five-point-eight million women—90 per cent of women taxpayers—will now receive a bigger tax cut compared to what they would have under the plan proposed by the coalition.

Labor's tax cuts deliver essential cost-of-living relief for Middle Australia, alleviating some of the pressures that currently impact household budgets. Importantly, Treasury has advised that these tax cuts will not add inflationary pressure. In our community of McEwen, these tax cuts will have a huge impact. Every single one of the 76,000 taxpayers in McEwen will receive a tax cut. On average throughout our communities, each person will get $1,583 back in their pockets. That is in addition to the $300 energy rebate that every single household will receive. That's another $300 back into the family budget.

It adds to the work of taking off more pressure in the cost-of-living crisis and supporting all Australians. Additionally, the Albanese Labor government is working tirelessly to tackle the cost of living and groceries. We are strengthening the Food and Grocery Code of Conduct and accepting all the recommendations from the recent independent review. This is part of our wide-ranging cost-of-living crackdown on anticompetitive behaviour in the grocery sector, and it is firmly aimed at getting a fair go for Australians and a fair go for farmers. It's all part of the plan to have Australians keep more of their hard-earned money and not to splash cash, which would lead to higher inflation. This is not the cash-splash that we've seen under previous governments.

Those opposite wouldn't know what effective cost-of-living relief or competent economic management were if they hit them in the face. Apart from a harebrained scheme to produce the most expensive form of energy in the world, what has the opposition offered up in response to the cost of living? The word is 'nothing'; they say, 'No.' Do they want cheaper energy bills? 'No.' Do they want cheaper medicines? 'No.' Do they want affordable housing? 'No.' Do they want wage increases? 'No.' Do they want tax cuts for all hardworking Australians? 'No.' We all recall the Deputy Leader of the Opposition grandstanding, saying that they will roll back these tax cuts.

Make no mistake: the coalition want to put your taxes up unless you're in the highest income bracket, and that is unfair on all Australian workers. They want to take the money that Labor has put back into the pockets of hardworking Australians for no reasons other than illogical ones. When it comes to the cost of living, the Liberals always say, 'No.' Their nasty negativity is no substitute for good economic policy credibility. Remember: the failed Liberals and Nationals left a legacy of economic mismanagement. The prolific spending, debt and deficit left this country on its knees.

This Labor government has been laying the foundations for a successful economy while dealing with the current cost-of-living crisis. The cornerstone of our cost-of-living relief package comes into effect today. If you're a nurse, the government has given you a tax cut. If you're a teacher, the government has given you a tax cut. If you're a truckie, this government has given you a tax cut. More than 95 per cent of the hardworking Australians in those industries will be getting a bigger and better tax cut than they would have received under the coalition. Under our plan, Labor's plan, more Australians will get a tax cut—and a bigger tax cut.

These tax cuts which come into effect today partner with our election promises of cheaper medicine, cheaper child care and affordable housing, and all are aimed at the cost of living. We said that we would get wages moving again in responsible ways, and we are. We supported this decision particularly because we know that our lowest paid workers are exposed to the impacts of high inflation. Given that real wages were going backwards, deliberately, under a decade of the coalition, and with all the pressures low-paid workers are under at the moment, we think it's entirely appropriate that they get the support they need. And we have seen around 800,000 jobs created since we came to government, a record for any government's first term. I'm proud to be part of the Albanese Labor government; we actually stand up for working families and provide the practical support and opportunities which the coalition failed to during its 10 years in government.

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