David Moncrieff (Hughes, Australian Labor Party) Share this | Hansard source

I'm absolutely delighted that those opposite have chosen a very interesting topic for the MPI today: plans for toxic taxes taken to the last election. And I'm glad, because such a topic would usually seem to indicate that those opposite have had time to reflect on the deeply damaging decision that they made last year to not only vote against a tax cut for every taxpayer in the country but also to go to an election promising Australians that they'd raise taxes if they formed a government. I hope that they have taken that time to reflect, and I hope that they won't make the same mistake again. Unfortunately, at the moment, it doesn't seem like it.

While we've been out listening to Australians about the cost-of-living challenges facing them, those opposite have been cowering in fear at the rise of One Nation and the prospect that their 1950s-style politics just might not be relevant to 2026 Australia.

Now, we on this side of the chamber—without our heads buried in the sand—do take note of the economic circumstances facing the world and the economic circumstances facing this country. And we have seen the dramatic impact that the conflict in Iran is having on Australians here at home. We know that these impacts are not short term. Even if the war ends tomorrow, there will be serious long-term impacts on our economy from this conflict. We on this side have been hearing about the cost-of-living pressures facing Australians—including fuel, groceries and health. But Australians have told us that the biggest impact on their cost of living has been housing. International economic pressures have only made the cost-of-living pressures associated with housing more acute and more urgent.

This is a government that listens, and this is a government capable of adaptation. This is a government that puts housing at the forefront, with the most ambitious housing agenda in generations: $47 billion to build more homes, back first home buyers and help renters get a better deal. This is a government reducing tax for 13 million workers, providing tax relief and tax reform to make our economy work in the interests of more Australians, of businesses and of future generations. This is a government that's strengthening Medicare with free urgent care clinics as a permanent part of Medicare and a record funding boost to public hospitals. It's making more life-changing medicines cheaper. This is a government responding to an uncertain world, making sure Australia is prepared for what comes next by investing to buy more fuel and fertiliser now and growing our national reserves of fuel and diesel to 50 days.

Those opposite now have the opportunity to support these measures and get behind a government that is listening to the Australian people and delivering ambitious reform, or they can take the opportunity to vote against Australians in the name of a desperate attempt to cling on to fleeting power. What will they do? It is hard to know. But one of the best predictors of future behaviour is past behaviour. Our government have spent the last four years putting forward measures to ease cost-of-living pressures on Australians and, each time, we have reached out to those opposite in support of the national interest to offer them the chance to support Australians and, each time, what have they done? They have turned their backs. They have voted against tax cuts. They have voted against cheaper medicines. They have blocked housing investment.

We on this side of the chamber have undertaken this incredible once-in-a-generation tax reform. We've introduced the working Australian tax offset. We've introduced a $1,000 instant tax deduction, which the ATO estimates will amount to $380 million in compliance cost savings. We're limiting negative gearing to new builds, where it will boost supply, from 1 July 2027. This is an important moment for the coalition. Australians are watching. They will remember who stood on their side and who stood against them. They will remember who backed a tax reform that is backing new supply into the Australian market and is standing against the status quo that is not working for young people. Those opposite now have an opportunity to decide where their priorities are and what the future of the coalition looks like.

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