House debates Statements by Members

Economy

Tuesday, 13 October 2026 House of Representatives

Simon Kennedy

Simon Kennedy Cook, Liberal Party, Shadow Assistant Minister to the Leader of the Opposition

1:51 pm

Recently there was a mother in Sans Souci in tears because she could not pay her mortgage repayments and was losing her house. The sad truth is that this government is partly to blame. There are 43 advanced economies in the world. Australia is the only one of those 43 to have four interest rate rises this year. In Australia right now we have an inflation problem, and there's a choice about how we deal with it. The Reserve Bank can increase interest rates on the one-third of Australians who have mortgages, who cut out nights out, who cut out essentials and who might cut out holidays, or the government can reduce its spending. Treasurer Chalmers spends $1 in every $4 in this entire economy, and while the Reserve Bank is asking Australians at home with four interest rate rises to cut out essentials Treasurer Chalmers is increasing spending at that very same time. That should make every Australian angry, because, right now, when you're reducing your spending while they're increasing interest rates, they continue to increase.

You might joke about 'if I'm a frontbencher', but you should be focused on the Australian people.

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