Ted O'Brien (Fairfax, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question goes to the Prime Minister. Prime Minister, today's ABS data shows inflation continues to accelerate under this government. Meanwhile, the Treasurer's spending spree continues, forcing the RBA to keep mortgage rates on hold indefinitely. Twenty-nine days before Christmas, what does the Prime Minister have to say to struggling mortgage holders facing no rate relief in sight?

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

In 2025 there have indeed been three interest rate cuts and that has provided real relief for people. Of course, two of those were after the budget that was handed down on 25 March. We know that those opposite have spoken about the culture of dependency when it comes to providing assistance for Australians. So, in the coalition's opinion, if you are an Australian who is getting cost-of-living help, we know you are opposed to that. For those working in the public sector, well, we know that you are opposed to them continuing to work in the public sector. Or if you're working in essential services, you are an economic burden and you are bad for our national character.

They think that Australians' wages, Australians' jobs and support for Australians deserves to be cut. That's really what they're saying in their subliminal—or not so subliminal—message when they speak about the 'culture of dependency'. Remember when Joe Hockey was here? He had similar language when he came to office about the 'lifters and leaners'. Those opposite think everyone but them is a leaner. They think that; we don't think that.

But who are the Australians they're attacking? It's pensioners and people caring for a relative or young kids. It's people getting study allowance at uni or rent assistance. It's the nurses, teachers, doctors, public servants all getting support. The ADF personnel—

Hon. Members:

Honourable members interjecting—

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

Order! The Deputy Leader of the Opposition is entitled to raise his point of order in silence, and I want to hear it.

Ted O'Brien (Fairfax, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

It goes to relevance. The question referenced the Treasurer's spending spree and the RBA not providing relief as a result. It invited the Prime Minister to address that issue, not to try to make things up about the coalition.

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

The Prime Minister did address that at the beginning of the question, and he is talking about spending. He's obviously not agreeing with the context of the question, so he's providing information about why he disagrees with it and giving some contrast. So he is being directly relevant. The beginning part of the question—he tackled the nub of it straightaway. If he hadn't done that—we're going to make sure he's being directly relevant. He has been. He won't be able to talk about the opposition; he hasn't been doing that for the entirety of the answer. But he's in order now.

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

When you're talking about spending, which is what the question went to, and the coalition say that there's too much spending, they've got to say what it is that they'll cut—what it is that is wasteful. The Leader of the Opposition actually said what she thinks is wasteful when she spoke about the 'culture of dependency'. So, for all those people, your wages are welfare and your job is a cop-out, according to those opposite. We've heard it all before. They wanted to sack 46,000 public servants at the last election. They wanted people to stop working from home. We on this side want people to earn more, and we want people to keep more of what they earn.

Jess Teesdale (Bass, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. What do today's inflation figures tell us, and how do the Albanese Labor government's efforts to provide cost-of-living help for people doing it tough compare to other approaches?

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

Order! I'm going to deal with that interjection from the member for Bowman. I'm sick and tired of people talking about reading—everyone reads statements in this House, including the people who ask questions. There will be no more interjections, particularly when ministers are reading. I read things all the time. I read things to the House. Show a bit of respect to everyone asking and answering questions. Let us have no more interjections like that. The Treasurer has the call.

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Bass for her question and also for the massive contribution she's already making as a new member of this place. With your indulgence, Mr Speaker, I acknowledge that my mate the Minister for Infrastructure, Transport, Regional Development and Local Government's brother is in the House. Michael is in the House, as is his wife Kerryn. We welcome them from the member for Corangamite's electorate. Thanks for the wonderful job you did in helping to raise the minister for infrastructure.

New figures from the ABS did show today that prices were steady in the month of October but did tick up through the year in the inflation figures. As the Prime Minister acknowledged a moment ago, and as I acknowledged earlier on, the annual result is higher than we would like, but it is much, much lower than what we inherited from the coalition when we came to office.

The flat 0.0 inflation result in October was driven by falls in electricity and fuel prices and a moderation in housing costs. But there was a tick-up in the annual number, and that, in part, reflects temporary factors, such as the timing of those state energy rebates, and also volatile items, such as travel prices.

Again, as the Prime Minister and I have both said today, this is why it's so important that we continue to responsibly roll out the cost-of-living relief that those opposite oppose. It's why it is so important that we have been able to improve the budget compared to the mess that we inherited from those opposite. It's why it's so important that we are rolling out those tax cuts, rolling out the cost-of-living relief and strengthening Medicare—to try and ease some of the pressure that we acknowledge Australians are still feeling around the kitchen table.

As I understand it, the shadow Treasurer gave a little speech about some of these issues a moment ago. We have heard these kinds of speeches before. The speech that the member for Fairfax gave sounded exactly like the speeches the member for Hume used to give. But, whatever speeches they give down the road, they can't obscure the fact that, when they were in office, they delivered nothing but deficits. They doubled the debt even before COVID. They had spending as a share of the economy up around a third. We have spent a great deal of time and effort cleaning up the mess that we inherited in the budget with a couple of surpluses, a smaller deficit, $200 billion less of Liberal debt, saving on interest costs, and $100 billion in savings.

The member for Fairfax might look like Scott Morrison. He might be undermining his leader like Scott Morrison did, but more and more he sounds like the member for Hume, and it didn't work out real well for the member for Hume.

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

I just remind the Treasurer not to comment on people's appearances.