Aaron Violi (Casey, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. EY economist Cherelle Murphy says additional net spending in the budget makes inflation worse, whatever it's form, saying:

… the cost will potentially be higher interest rates, which households and businesses cannot afford.

Why do Australians always pay more under Labor?

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I sincerely thank the member for that question. In April of last year, in PEFO, as a result of the March budget that was in that last week so that a government could cling on for a bit longer—a government that didn't have an agenda—it projected the budget deficit this year, in 2022-23, to be $77.9 billion. That was the prediction. And, of course, we know that the government again—I give credit to the member here and I suggest he dissociate himself from the past because what he mightn't be aware of is that the largest deficit in Australian political history was by the coalition that preceded. The second-largest deficit in Australian was those opposite as well.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The member for Deakin is on a warning.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

You have a political party that the last time it was in charge of the Treasury benches produced Australia's largest-ever budget deficit in history, the time before was the second-largest budget deficit in history. They got all the prizes. If you had a pedestal there, like at the Olympics, they'd be up there getting the gold medal, silver medal and bronze—gold, silver and bronze. You'll see tonight what a responsible budget looks like.