Andrew Willcox (Dawson, Liberal National Party, Shadow Assistant Minister for Manufacturing and Sovereign Capability) Share this | Hansard source

We are here to consider the real cost of this Labor government's reckless spending, not just in abstract numbers but in the lives of everyday Australians. Reckless spending isn't just bad economics; it's a tax on hope, a tax on ambition and a tax on every family trying to get ahead. Since the Albanese Labor government came to office, it has added $100 billion to the national debt, a figure set to breach $1.2 trillion by the next election. That is not just a number on a page; it's a burden that will be forced upon our children and grandchildren to carry. On the cost of interest alone, Labor are now spending $50,000 every single minute—money that can't go to hospitals, schools, infrastructure or frontline services. Yet, despite this ballooning debt, the government has committed $22 billion in new decisions.

We all know that Labor cannot manage money, and, when they run out of their money, they come after yours. Australians are left to pay the price in higher taxes, higher bills and higher debt. This government's reckless pursuit of net zero at all costs has become a blank cheque for wasteful spending. Billions of taxpayer dollars are being poured into tokenistic gestures that will not make a measurable dent in global admissions yet they are driving up costs for everyday Australian households and businesses.

Labor is shackling our energy security to weather-dependent sources while ignoring the smarter baseload power options that keep factories running, farms producing, and families' lights on. The government's heavy-handed intervention in the gas sector has strangled investment, pushing us to the brink of energy shortages and even higher prices. Instead of lowering emissions in a practical technological way, Labor is importing solar panels and wind turbines built with foreign materials, eroding our sovereign manufacturing capability and exporting Australian jobs.

The truth is simple: every dollar of reckless green spending that fails to deliver cheaper, reliable power is another dollar added to inflation, another rise in power bills, and another blow to the cost of living. It is time the government stopped chasing headlines and started chasing outcomes by a cost-of-living target not an emissions target.

Consider young Australians trying to enter the housing market. Average mortgage repayments are set to remain $1,700 higher per month under this government than they would have previously. The government's solution ignores basic economics. Economics warns that the government's approach could push housing prices even higher, worsen affordability and leave buyers saddled with higher debt, especially in a market with limited supply. There is a real risk of negative equity, leaving first home buyers trapped in a price fall, and all because this government refuses to manage its spending responsibly.

This reckless spending is felt across every corner of Australia, with families working extra shifts just to make ends meet, small businesses facing increasing energy costs while trying to keep staff employed, pensioners deciding to go without meals so they can afford their electricity, and, all the while, the government pours more money into programs with no economic return, creating temporary fixes while the underlying problems—debt, inflation, cost-of-living pressures—continue to grow. Australians continue to pay more every month—not because of their choices, but because of this government's fiscal bad management. The result is falling real incomes, record insolvencies and a cost-of-living crisis unlike anything that has ever been seen before.

I'm supporting this motion because it is restoring common sense, accountability and fiscal responsibility. It is about protecting Australians from the consequences of unchecked reckless government spending. It is about ensuring that taxpayers' hard-earned money is directed towards priorities that actually matter—health, education, national security and infrastructure—and is not squandered politically. Time and time again, Labor has proven that, when they run out of money, they come after yours. Australians cannot continue to fund this spending spree.

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