Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

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. 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. 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.

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.

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