Angus Taylor (Hume, Liberal Party, Shadow Treasurer) | Hansard source

Of course, that's the same promise they made two years ago, as I am reminded. But hardworking Australian families and small businesses know the truth. Australians can't afford this ongoing cost-of-living crisis. Labor's cost-of-living con job is hurting Australian families.

Australians are poorer since Labor came to power. Under Labor, prices have gone up by nearly 10 per cent. Australians are paying 20 per cent more personal income tax. Employee real wages have collapsed by nearly nine per cent. Living standards have collapsed by nearly eight per cent. Household savings have collapsed by nearly 10 percentage points, and homeowners with a typical mortgage of $750,000 are nearly $35,000 worse off under this government. Labor have had three failed budgets. This inflation is homegrown. This is Labor's inflation. This is 'Jimflation'.

Australians have had five consecutive quarters of negative GDP growth. It keeps going. We're the only G10 country that has seen inflation go up since December. This is an absolute indictment on this Labor government.

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