Matthew Canavan Queensland, Liberal National Party
2:56 pm
My question is to the Minister representing the Prime Minister, Senator Farrell. In question time on Wednesday, Senator Farrell stated to us all, 'It is the objective of the Albanese-Labor Government to put downward pressure on power prices'. Minister, as we near the end of the first year of the Albanese government, are power prices now lower anywhere in Australia compared to the day of the election?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
Thank you, Senator Canavan, for the question. Of course, you were part of that coalition government that refused to disclose to the Australian people that you had increased the price of electricity in the weeks before the last federal election. So please don't come into this place lecturing us about power prices.
Now, what have we done? What have we done about it? Well, we did two things in particular. We did two things in particular to put downward pressure on electricity prices because we saw the neglect by your government over almost a decade in dealing with this issue. What did we do as soon as we came into office? One of the very first things—
Matthew Canavan Queensland, Liberal National Party
Just a point of order on relevance. The question didn't go to what is being done; it went to the outcomes. It was a very clear, very simple question about whether the minister knows a place in Australia where power prices are lower. I would ask you respectfully to draw his attention to that particular question.
Sue Lines President
Thank you, Senator Canavan. The first part of your question did go to downward pressure. I will remind the minister of the second part of your question.
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
Senator Canavan, I like to answer all parts of your questions. The Albanese government understands the pressure that is on Australian families as a result of rising electricity prices. Of course we have seen the terrible war in Ukraine and what that has done to prices right around the world. Every country in the world is facing upward pressure on electricity prices. What did we do? We capped the price of gas and we capped the price of coal in order to push the price down, and you voted against it. (Time expired)
Matthew Canavan Queensland, Liberal National Party
2:59 pm
Also in question time on Wednesday, Senator Farrell said, 'nobody understands cost-of-living pressures more than our Prime Minister'. If that is true, Minister, then can you explain why, after 10 consecutive interest rate rises on Mr Albanese's watch, an Australian family with a mortgage on a $750,000 property are now having to find an extra $20,000 a year to pay off their mortgage?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
3:00 pm
I thank Senator Canavan for his question.
Katy Gallagher ACT, Australian Labor Party, Minister for the Public Service
When did those interest rates start increasing? When do you think that happened?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
Worldwide, there's been upward pressure on mortgage rates. Regrettably, Australia is not alone in that regard, and in many respects it's a hangover—
As Senator Gallagher rightly says, of course, they started going up under your government. It was the economic policies set in place by your government. We understand why that was: because you made a whole lot of wrong decisions in the course of the pandemic, which no doubt—
Simon Birmingham SA, Liberal Party, Shadow Minister for Foreign Affairs
You called for more spending!
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
No, no, no.
Simon Birmingham SA, Liberal Party, Shadow Minister for Foreign Affairs
Yes, you did.
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
No, Senator Birmingham. I— (Time expired)