Senate debates Questions without Notice

Economy


Katy Gallagher

Katy Gallagher ACT, Australian Labor Party, Minister for the Public Service

2:55 pm

I was merely making the point that the concern about inflation from those opposite didn't seem to cover the period of time that inflation was galloping away when they were in government; indeed it continued to rise to its peak in the December 2022 quarter, from memory.

Since then, we have seen inflation come down considerably. Now, instead of having a six in front of it, it has a three in front of it. We have been very clear that that is too high, as has the bank, and they are doing what they do in terms of their role in bringing inflation back to band. We are taking our responsibility in relation to the decisions that we make around that.

Much of the cost-of-living support, which you also complain about and voted against, was done in a targeted way that didn't add to the inflation challenge in the economy. We took those decisions very carefully, acknowledging that people were under pressure and that the government had a responsibility to respond to that.

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