Jess Walsh (Victoria, Australian Labor Party, Minister for Early Childhood Education) Share this | Hansard source

I thank my friend Senator Smith for her question, my first question. We promised Australians that the first legislation that a re-elected Albanese Labor government introduced would be to wipe 20 per cent off the HECS debt of every Australian. Today, in this first week of this new parliament, we have introduced legislation to deliver exactly that because our No. 1 focus is continuing to deliver cost-of-living relief for the Australian people. This legislation will wipe $16 billion from the HECS debts of Australians. For someone with the average HECS debt of around $27,000, it will mean that about $5½ thousand will be wiped off their debt. It won't just benefit uni students. This legislation covers all HELP loans, including loans to apprentices and to other VET students too, because we know that, whether you're studying at uni or TAFE, you're developing the skills that keep Australia moving.

We know that even though inflation has eased in our first term, cost of living remains a concern for many Australians, particularly young people. That is why we are providing relief for those just starting their careers, by wiping their debt. We know how important it is to get a good education. Education has the power to change lives. It has the power to build our country, by giving people the skills they need to get good, well-paid jobs. That's why Labor will always back the aspirations of Australians who want to go to uni or to TAFE. That is why we are providing HECS relief as the first piece of legislation of this 48th Parliament.