Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Hansard source

I addressed the impact of inflation before, and it's set out in the budget papers, in relation to that interaction between inflation and wage rises. The wage price index is forecast to grow to 3¼ per cent in the new financial year starting 1 July, following the provision of these additional supports that we're providing. It then grows further to 3½ per cent real wages growth put out into the future.

Senator Ayres also asked about the dollar value for Australians in different circumstances. But when it comes to take-home pay for Australians there are many factors at play. And when it comes to take-home pay our income tax cuts play a very big factor. They play a very big factor. Someone earning around $90,000 under the Labor Party would have been paying $21,200 in income tax. But under the Liberal and National parties they are paying $18,600—a very significant addition to their take-home pay.