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

in ways that take pressure off inflation and support the economy. Today during question time, of course, we will have the Reserve Bank decision, but the national accounts will be released tomorrow, and we will expect to get an assessment of the impacts of the increases in interest rates, the high-but-moderating inflation and some of the continuing global uncertainty and the impact that is having on the economy. We are seeing welcome progress in the fight against inflation. Higher interest rates that started increasing in May last year, before the election, have impacted, particularly on mortgaged households, and are slowing the economy. National accounts are likely to show the combined impact of the higher interest rates and that global uncertainty.

We understand that Australians are doing it tough, which is why our main priority focus has been on providing targeted cost-of-living relief in the way that doesn't add to inflation and in a way that the budget can afford. That cost-of-living package includes providing assistance across the board in support for those who receive rent assistance; for those who are using the childcare, early education and care system; for those accessing cheaper medicines, or needing scripts filled every month, or every two months under some of the changes recently; the fee-free TAFE, which has been such an incredible success; and of course support to reduce the impact of energy increases through energy bills.