Julie-Ann Campbell (Moreton, Australian Labor Party) Share this | Hansard source

Deputy Speaker Lawrence, I've got a secret to let you in on, and it's that when the coalition, those opposite, talk about cutting spending they're talking about cutting things that Australians need. The member for Blair is right. We don't know what cuts they are talking about when it comes to this budget. We don't know whether it's going to be health—they might go into the idea of axing bulk-billing again—or whether it's going to be manufacturing. We know that last time they were in government they cut the guts out of manufacturing, sent jobs offshore and booted the car industry out of this country. Is it going to be cuts to education, going back to what the coalition did in the Howard years, making sure that tertiary students were doing it even tougher? This debate, at its core, is about what the opposition would cut, because they've got a cracking track record of it.

Last week I was out knocking on doors. I spoke to a mum in Corinda, and she was worried about how her adult children would get into housing. I spoke to a dad in Tarragindi with a five-month-old, and he was worried about health care. I spoke to a young couple in Corinda, and they were worried about the cost of their bills. It's clear that people are doing it tough. People are doing it tough across this country, and that is why the Albanese Labor government is focused with a laser on our No. 1 priority, which is delivering cost-of-living relief. Cost-of-living pressures are real, particularly for those on low and fixed incomes. We're taking action every day on easing the cost of living for everyday Australians.

I think it's worth looking at the opposition's record when it comes to the economy that has such a big impact on every Australian, because the opposition left us with an inflation rate with a six in front of it. Public demand grew faster than private demand two thirds of the time under them. They went to this last election promising bigger deficits, more debt and a tax hike on every Australian to fund nuclear reactors. That's the reality. We don't have to imagine what the opposition would do if in government, because they have shown their colours time and time again. Not only do we know they have a track record of cuts, not only do they want to increase taxes for every Australian; they've also voted against cost-of-living relief measure after cost-of-living relief measure. Whether for free TAFE or for 20 per cent off student debt, the opposition has form.

We've delivered surpluses. We've turned those Liberal deficits into surpluses, and we've brought the budget into much better shape. The budget is over $233 billion better than what we inherited, with over $114 billion in savings found. It's the only mid-year update on record to deliver a better bottom line in every year of the forward estimates, with less debt in every year and net policy decisions that improve the bottom line.

Inflation has been higher for longer than we'd like, but it's substantially lower than its 2022 peak and much lower than we inherited from the coalition. There are temporary pressures such as the end of energy rebates, global volatility and the escalating situation in the Middle East. The RBA governor has been very clear. What surprised them last year was the strength of the pick up in private demand, not public spending and not fiscal policy. Private demand strengthened substantially more than expected in mid-2025. In the December quarter, private demand contributed more than three times as much to growth as public demand. When you contrast this side of the chamber with those opposite, what is clear is that we are investing in cost-of-living relief for everyday Australians and they only ever cut.

Debate adjourned.

Federation Chamber adjourned at 19:17

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