Leon Rebello (McPherson, Liberal National Party) Share this | Hansard source

I rise to support the motion moved by the member for Casey to condemn this government's reckless and out-of-control spending. This government's economic philosophy more closely resembles that of a gambler on a losing streak than a prudent steward of our nation's finances.

Government spending must be targeted, effective and efficient. Labor continues to act entirely out of self-interest, piling on debt with no regard for the generations to come, who will ultimately foot the bill. Under Labor, spending has blown out from 24 per cent to 27 per cent of GDP, the highest level outside a recession in nearly 40 years. Labor has taken a blowtorch to the fiscal guardrails that every responsible government of either persuasion has used and respected for decades. Treasury officials have confirmed there are no quantifiable fiscal rules guiding Labor's budgets—no speed limit; no seatbelts; just a blank cheque and a Treasurer who thinks budgetary discipline is optional.

Since coming to office, Labor has added $100 billion to the national debt, on track to breach $1 trillion this financial year and $1.2 trillion by the time of the next election. Every minute, $50,000 of taxpayers' money is burnt just on interest. That's $72 million every single day that isn't being spent on essential services. Labor's spending binge has worked against the RBA, kept inflation sticky and rendered rate cuts impossible. Markets now fear it may be 'one and done' on cuts, with rates remaining elevated for longer. When Labor spends, Australians pay.

First, they ditched the rule book and reached for your wallet when they floated their tax on unrealised gains in super, opening the door to taxing theoretical profits because they're desperate to feed their spending habit. This wasn't just poor policy; it crossed a line and set a dangerous precedent that spooked savers and retirees. A government that cannot live within its means will always go looking for new ways to live within yours.

It's not just the size of spending; it's the quality. Despite the splurge, growth hasn't improved. My constituents in McPherson feel no better off, and Australia has endured multiple quarters of per capita recession. In failing to rein in its spending, Labor is betraying the young Australians who will be left to service an ever-expanding debt. On behalf of my community, I plead with the government to restore the quantifiable fiscal rules that every government of either persuasion has adopted and heed the warnings of leading economists. Their track record should be an indication that clear rules and real restraint are critical, now more than ever. Stop the waste, curb the debt, and ease cost-of-living pressures. But fiscal rules are only half the job. We must start growing the economic pie and Australians' slice. That means a pro-productivity agenda; cutting red tape that is smothering builders, innovators and exporters; restoring ambition to business; and delivering permanent income tax relief so that work is rewarded. In short, get government out of the way so that Australians can get ahead. That is the coalition's instinct and record.

Australians know the difference between a government that manages and a government that spends. They also know there is nothing compassionate about policies that keep rates higher for longer, hollow out savings and leave the bill for the next generation. I support this motion because when Labor spends, you pay. The coalition will deliver discipline, lower taxes and stronger growth so that Australians can thrive. That is our promise, and that should be the government's promise as well.

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