Jo Briskey (Maribyrnong, Australian Labor Party) Share this | Hansard source

It is extraordinary that the Leader of Opposition Business, a senior member of the opposition who has been in this place for more than 15 years and has served as a cabinet minister, would choose to use his time in this chamber to fearmonger and to attempt to scare the Australian people. At a time of global uncertainty, Australians deserve facts and leadership. What they do not need is an opposition once again choosing to amplify anxiety during a crisis for their own political gain. I do acknowledge the member for Riverina on his message not to panic buy. It was good to see that. I'm glad to hear that. But those opposite know, and many of them saw it firsthand when they were in government during a pandemic, that when global events create uncertainty, the role of members in this place is to reassure Australians and provide clarity. It is not to serve their own political interests at the expense of the national interest. This type of behaviour is not only dangerous; it is unhelpful and it is dishonest.

Australians have every right to be concerned when major international events threaten global supply chains. The escalation of conflict in the Middle East is serious, and it has implications for energy markets around the world. Australia is not alone in this challenge. But let's be absolutely clear about the facts when it comes to Australia's fuel supply. Our nation is fuel secure. In fact, we are above our minimum petrol stock obligations. As the minister confirmed in question time today, this stock has not yet been accessed, because the supply to Australia continues strongly.

We are in a stable position because this Labor government acted. From the moment we came to office, we took practical steps to strengthen Australia's fuel security and ensure our systems were resilient in the face of global shocks. In case those opposite have lost sight of it in their political games, there is a war happening in the Middle East. It is an international crisis. People are being displaced, our allies are being attacked, and Australian lives are at risk. This is not a commercial opportunity for retailers, and it's certainly not a political opportunity for those opposite.

While the opposition is busy stoking and spreading fear, the Treasurer and the Minister for Climate Change and Energy have asked the ACCC to ensure that fuel retailers do not use the events in the Middle East as an excuse to price-gouge Australian motorists. They have also flagged that any necessary ACCC exemptions are granted, and the doubling of penalties for false and misleading conduct. Because of the proactive actions of this government, fuel retailers have been put on notice. The ACCC has made it clear it will not hesitate to act if businesses break the law. Importantly, we have given the ACCC the powers it needs to do the job properly. We have increased the maximum penalty for serious breaches fivefold to $50 million. We've extended the ACCC's petrol price monitoring powers for another five years and ensured it can issue on-the-spot fines if it suspects false or misleading statements.

These measures are about protecting Australian consumers, but industry also has an important role to play. We've asked fuel companies to work closely with farmers and small businesses to ensure that they can access the fuel that they need to keep their businesses functioning.

We know Australia is not immune to these global shocks. The conflict in the Middle East compounds uncertainty for global growth and inflation. But our economy is built on a foundation of resilience, not rhetoric. It remains strong and it is well placed to get through this latest global upheaval.

Of course, we understand that Australians are feeling the pinch. That is why our focus remains steadfast, on meaningful relief, whilst those opposite talk down the economy and focus on their own importance. We have delivered tax cuts for every taxpayer, pay rises for low-income workers, cheaper medicines and a stronger Medicare with more bulk-billing so Australians can see their GP for free.

The escalation in the Middle East is a sobering reminder of why a responsible, measured approach is important. While those opposite seek to politicise a global crisis for their own political gain, this government will continue doing the work Australians actually expect of us: securing fuel supply, working with industry, protecting consumers, strengthening our economy and delivering real cost-of-living relief, because Australians deserve a government that steadies the ship, not an opposition that is desperately trying to sink it.

See this speech in context