Zhi Soon (Banks, Australian Labor Party) Share this | Hansard source

The 2026-27 budget, delivered by the Treasurer a fortnight ago, was focused on reform and resilience across our economy and our society. There has been plenty of commentary since budget night, and this MPI by the shadow Treasurer today is a perfect example of the commentary that is distorting the reality of the budget handed down by this government.

Contrary to what the topic of this MPI would have you believe, this government is delivering a package of tax cuts that will benefit all Australian workers, including in my great electorate of Banks. These measures include income tax cuts for every taxpayer—some of which have been delivered already—with a further cut that will come into effect in just 36 days and another one on 1 July 2027. The $1,000 instant tax deduction has been delivered as promised and will make tax time simpler and taxes lower for 6.2 million Australian taxpayers from the 2027-28 financial year, enabling more Australians to keep more of what they earn. It is remarkable that, despite the combined benefit for an average Australian earner being up to $2,816 as a result of these changes, those opposite still try and spin that this budget is increasing the tax burden. I guess we will have to wait and see if those opposite will vote against tax cuts for Australians yet again later this week.

The author of the MPI would also have you believe that the budget delivers fewer homes—a demonstration that they have failed to read the budget papers in any detail. In fact, those opposite have been talking about what is in the budget papers in just about every single MPI and member statement since the budget while omitting key components. They never seem to mention the 65,000 new homes supported under the new Local Infrastructure Fund. They also never seem to mention the $47 billion going into the Homes for Australia Plan. And they don't mention the 660,000 homes built since this Labor government came in, nor the fact that commencements are up 26 per cent compared to this time last year. It could not be much clearer: this is a government that is committed to building more homes for Australians and getting on with the job of rectifying the shocking absence of investment by the former Liberal government.

There is plenty more in this budget. We're building on our record investment in Medicare, keeping our promise to make medicines cheaper, delivering record hospital funding and making urgent care clinics that so many of us are benefiting from across this country a permanent part of our healthcare system. We are also investing in public schools, with an extra $20 billion over the next 10 years to deliver on our Better and Fairer Schools Agreement, and our reforms to help students catch up and keep up at every school in this country.

We've heard a lot about aspiration and broken promises from those opposite. This rings incredibly hollow from a party that made a whole raft of promises about budget management and surpluses and reducing debt, but then broke all of them. I've spoken to many of my constituents about the budget directly at train stations, while doorknocking and on the phone in response to correspondence since the budget, and I'll keep doing so, because this is a transformational budget. It is a budget that fixes the system that even the shadow treasurer has admitted in the past is broken and stacked against first home buyers. This budget is supporting aspiration. It is making sure that first home owners are given every chance to succeed.

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