Kevin Hogan (Page, National Party, Deputy Manager of Opposition Business in the House) Share this | Link to this | Hansard source

This week has been a terrible week for mortgage holders in Australia. We've seen, this week, the 13th interest rate increase under this Labor government. That's obviously had a huge impact on the average family; in fact, the average family mortgage payment has gone up by over $20,000 per year because of those interest rates. So that obviously eats into family budgets and how much money they can afford to buy food and how much money they have to do many other things. As we know, many economists around the country blame these interest rate increases firmly at this Labor government's economic policy decisions.

The other issue I want to raise today is this government's net zero 2050 policy. Deputy Speaker, you know and I know that this policy is making power prices go up and unaffordable for many families. We have to remember that Labor's aggressive net zero 2050 policy is that they want Australia to lower emissions faster than three very important countries: the US, China and India. Why do I mention those three countries? It is because they are the biggest emitters in the world. China's emissions go up more every year than Australia's total emissions. Labor wants to race ahead of those countries, which is causing great economic damage to our country. Interest rates and power prices are going up, bringing economic ruin to a lot of families and businesses.