Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Smith for the question. Last night the Treasurer delivered a responsible budget that is right for the times and that readies us for the future. The budget confronts challenges that have been ignored for too long and seizes the opportunities that won't wait any longer. It delivers on our commitments, which the Australian people endorsed at the last election, affirming their faith in a new government. Australians know that a complex combination of challenges at home and abroad is pushing up the cost of living and they know the government can't make inflation disappear overnight. But our budget delivers on cost-of-living relief that is responsible, reasonable and targeted and delivers a long-term economic dividend.

Our five-point plan for cost-of-living relief includes delivering cheaper child care for 1.26 million families, with 96 per cent of families with children in care better off and no family worse off. It expands paid parental leave to 26 weeks for working parents—the biggest reform of paid parental leave since Labor introduced it in 2011. We are making housing more affordable and helping more Australians to buy a home, with 30,000 affordable and social homes, delivered via the Housing Australia Future Fund returns, and an additional 20,000 affordable homes delivered under the National Housing Accord. We will cut the cost of medicines on the Pharmaceutical Benefits Scheme, saving around 1.6 million Australians more than $190 in out-of-pocket costs each year. We are supporting wage increases for our lowest paid workers, boosting job security and employee entitlements and getting wages moving again.