Sussan Ley (Farrer, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. In August this year, the Prime Minister said Australia had 'turned the corner' on inflation, yet, devastatingly, last week we saw inflation rising again. Economists are saying this has all but killed off a much-needed rate cut before Christmas. Under Labor we have rising inflation and rising unemployment. Prime Minister, households are stretched to the limit. When will prices come down for Australian families?

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

I thank the Leader of the Opposition for her question, but, as everyone in this parliament knows, and Australians know as well, the inflation rate had a six in front of it when we came to office and it now has a three in front of it. Yes, there was a rise in the latest figures, but that was after a number of falls. Indeed interest rates, which the member referred to as well, commenced to fall under us. They started to rise under the former government, as the member knows well. And the unemployment rate has a four in front of it. We have seen employment continue to grow—more than a million jobs being created on our watch—and the lowest average unemployment of any government in five decades.

We are very proud of our record when it comes to the economy, such as the fact that, for the first time in decades, this Treasurer produced two budget surpluses in a row as well as lower deficits than what they went to the election on. At the election, held six months ago today, the Australian people gave their verdict on the choice before them: a Labor government committed to continuing to put downward pressure on inflation, a Labor government continuing to provide cost-of-living relief, a Labor government continuing to stand up for Australian jobs and a Labor government committed to real action on climate change—or the alternative. The alternative that was before the Australian people was—

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

The Leader of the Opposition on a point of order?

Sussan Ley (Farrer, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

It's a point of relevance. It was a direct question: when will prices start to come down?

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

Yes, but you also indicated about inflation and employment. The Prime Minister has dealt with the inflation numbers and the employment figures in his answer to the question. So yes, I understand that you'd like a date or a time, but I think anyone would agree that the Prime Minister is being directly relevant. He's got 56 seconds left, and he'll be able to answer the question, as long as he's being directly relevant, and I think everyone can agree that he is being directly relevant.

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

Thanks, Mr Speaker. The Australian people, six months ago today, had that choice before them, and they chose not to vote for the option that said, remarkably—and it is quite an achievement, I will say, to our New Zealand brother who is here on the floor with us today, that they actually managed to go to an election saying this—that the deficits would be higher but taxes would be higher as well. They put forward an option that said that a vote for the Liberal Party is a vote for higher taxes and higher deficits. The Australian people rejected them, and the Australian people are continuing to reject them.