Michaelia Cash (WA, Liberal Party, Leader of the Opposition in the Senate) Share this | Hansard source

Sadly, the reality for the Australians after four years of the Albanese government is that they're doing it tougher than ever before—not because of bad luck, not because of global forces beyond anyone's control, but, sadly, because of choices, deliberate choices made by the Albanese government in Canberra. Australians are now living with those consequences each and every day.

But what do those consequences look like in real life? What has this government actually done to Australians? In the first instance, you wouldn't want to be a mortgage holder in this country under the Albanese government. You are now paying $29,000 more on your mortgage. That is right—the average family under Mr Albanese is paying $29,000 more per year on their home loan than when Labor was elected. There have been 15 interest rate rises under the Albanese government. The Reserve Bank has been very clear: our inflation is being driven by decisions of the Albanese government.

Then, of course, there was the promise on energy bills. What did they say when they were trying to buy the votes of Australians? 'We will reduce your energy bills by $275.' The bad news for Australians is this: they have risen by 32 per cent. That promise never materialised and is long gone. Insurance costs are up by 42 per cent. In Australia we have experienced the highest and the biggest fall in living standards of any developed nation on Earth—not in our region but in the world. And the debt count is heading towards $1 trillion of debt for our kids. That is $50,000 a minute that we are paying just in interest under the Albanese government.

Then tonight they're about to slug millions of Australians even more. In other words, the pain you are already feeling is going to get a hell of a lot worse tonight, when the Treasurer, Jim Chalmers, opens his mouth. On top of everything, on top of all that pain, tonight the Albanese government is going to cut the private health insurance rebate for every Australian over the age of 65. Australians need to think about that. Who is the face of that? Well, it could be your mum and dad, or it could be your grandparents—people who have worked diligently all their lives, who have paid their taxes, who have been responsible and taken out private health cover. Why? Because they did not want to burden anyone else. They have been paying their premiums year after year after year, decade after decade after decade. I thought we'd be thanking those people. Yet tonight, because the Albanese government wouldn't know how to manage an economy if it fell over it, those people are going to be punished for that responsible decision. This happens to be the reality.

Up to 3.2 million older Australians will be affected by the decision tonight to cut the private health insurance rebate. And 400,000 pensioners are going to be directly hit tonight. That could be an additional $1,614 for a couple on gold cover every single year. That's what you will now pay. It will be $807 extra in costs for an individual each year, a 21.3 per cent premium increase—the biggest rise on record. We're in the middle of the worst cost-of-living crisis in a generation, and tonight this government will smash our pensioners and ask them to find an additional $807 if they're single or up to $1,614 for couples. That is the biggest premium increase on record. The reality for those people is that they're going to drop their private health cover, thanks to the Albanese government. And do you know what then happens? They move into the public hospital system. And then what happens? Elective surgery waitlists get longer. Then what happens? Working-age Australians and taxpayers foot the bill. This is complete madness. Quite frankly, the pensioners of Australia deserve better.