Tyron Whitten (WA, Pauline Hanson's One Nation Party) Share this | Hansard source

I thank Senator Dean Smith for once again bringing this important issue to the attention of the Senate. Inflation hit 3.2 per cent in the September quarter, up from 2.1 per cent in June driven by electricity prices jumping 23.6 per cent over the year as rebates ended in Queensland, Western Australia and Tasmania. They were nothing more than a Labor trick, a sleight of hand, to hide their economic ruin running into an election. But the facade of good fiscal management could only hold up for so long. It's time to pay the piper. The net zero chickens have come home to roost.

Energy isn't the only thing driving up inflation. Housing has hit the roof, thanks to Labor's insane policy choices. Labor's high immigration levels are flooding the housing market with housing up 2.5 per cent for the quarter and 4.7 per cent for the year—miles ahead of the headline inflation rate. This doesn't even include the soaring cost of buying established homes, ballooning under Labor's ill-conceived five per cent deposit scheme. Nor does it include the cost of interest on the ever-larger mortgages that the next generation is lumped with. No sooner had the kids signed up for 95 per cent of a million-dollar mortgage than they are staring down the barrel of a rate rise.

Under normal economic conditions, inflation is usually accompanied by a boom in the economy, where people are doing so well demand fuels prices and rates are brought up to take some of the juice out of the market. That's not what we're seeing here. Unemployment is up. Thousands of Australians are losing their jobs while costs skyrocket. Labor brags about Australians getting a pay increase. It won't be enough. Labor has landed the RBA in the disastrous position of facing rising employment and rising inflation. Make no mistake. Labor has driven the crisis with their disastrous policies, and we are just seeing the beginning of this market sabotage. One Nation knows what needs to be done.