Helen Polley (Tasmania, Australian Labor Party) Share this | Hansard source

Last night, the Treasurer handed down the 2026-27 federal budget. It represents, again, the Albanese government's nation-building. It is our fifth federal budget under Prime Minister Anthony Albanese. It's a responsible budget focused on economic resilience and economic reform. It's about getting Australians through the global oil shock and building an economy that works for more Australians. It's an ambitious budget for all Australians. It makes our country better and fairer. Our government has delivered tax cuts, cheaper medicines, urgent care clinics, cheaper child care, free TAFE and a 20 per cent cut to HECS debt. We're reforming our country for the better. But, as the Treasurer said last night, the war in the Middle East is pushing up prices, pushing down growth, putting pressure on inflation and punishing Australians.

This budget is ambitious. It is a reforming budget in the strongest of Labor traditions. There is more cost-of-living relief, more for Medicare, more for aged care and more housing. It makes the tax system fairer and stronger for workers, businesses, first homebuyers and future generations, responding to the pressures of the here and now while embracing an intergenerational responsibility.

As Australians, we confront global challenges together from a position of strength. Economic growth here is still higher than it is in other comparable nations. Real incomes have been growing strongly, unemployment is historically low and we have one of the strongest budgets in the world. This government cut taxes two years ago. We're cutting them again this year and next year, while Mr Taylor and those opposite took to the last election a 'no tax cut policy' for the Australian people. Since the budget was handed down last night, all they've done, on that side, is complain. They've offered no solutions to the challenges facing this country.

One Nation destroyed those opposite in the Farrer by-election, but there's still no humility from those opposite. What we will see now is a new and revitalised 'no-alition' of the Hanson One Nation, Liberal and National parties. They have no plan for government, only a plan to refuse reform, complain and vote 'no' to everything. People will see, in the fullness of time, Senator Hanson for who she really is. She has no policies. She has no agenda for the future. The only advice Mr Barnaby Joyce could give voters last night was that instead of investing in their future, they should just piss it up against the wall. That's the One Nation theory for the future!

Last night, I was proud to see Labor delivering another round of ongoing tax cuts for Australian workers. We put more money in the pockets of 13.3 million workers, with a new $150 working Australians tax offset. Altogether, our five different tax cuts—which One Nation, the Liberals and the Nationals voted against—will put, on average, $2,816 in Australian workers' pockets by 2028.

When in government, Labor always invests in Medicare, cheaper medicines and public health so that Australians receive care when they need it. This budget includes another $25 billion for public hospitals. We're also investing $5.9 billion to list more medicines on the PBS so that Australians continue to access life-changing medicines at cheaper prices.

The reforms in this budget will lift our total investment in housing to a record $47 billion. What did those opposite do when they were in government? They didn't build one house. This budget is levelling the playing field for first home buyers with a five per cent deposit and tax reform to help more young Australians into their own home. There's $3 billion to deliver more beds, more packages and better aged care for older Australians, and I applaud that. There's $2 billion for the Thriving Kids program and a $3 billion provision for other fundamental supports for those who will be outside the NDIS. And there's $2.2 billion to strengthen Services Australia and ensure Australians continue to receive safe, secure and reliable services as quickly as possible. Australia will be better because of this budget. The Australian people know that. That's why they rejected those opposite.