Paul Scarr Queensland, Liberal Party
2:00 pm
My question is to the Minister representing the Treasurer, Senator Farrell. The two budgets of the Albanese Labor government have committed an additional $188 billion in spending, with economists describing your last budget as 'unambiguously expansionary' and 'likely to add to inflation'. Doesn't all the evidence show that Labor's fiscal policy is keeping inflation higher for longer and fuelling the cost-of-living crisis?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
I thank Senator Scarr for his question. He obviously wasn't watching too closely on budget night, but, of course, this government produced a surplus—a $20 billion surplus. We've tried to make this a fairer country by improving wages and by trying to bring back some of the equality that we lost over the previous nine years. But, of course, by delivering a surplus, we put downward pressure on inflation. Yes, we rejigged spending in this country based on the commitments that we made to the Australian people when they rejected—
Unidentified interjection - Hansard doesn't record who said this
Hon. Senators:
Honourable senators interjecting—
Sue Lines President
Senator Farrell, please resume your seat. Order across the chamber, particularly on my left. Senator Farrell, please continue.
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
We rejigged and we reset the priorities of this country to make sure that we were looking after the people that really need looking after—not like your budgets, which just looked after your rich mates. We rejigged the budget to make sure that ordinary Australians were being looked after and, at the same time, simultaneously produced the first budget surplus in 15 years. It's something that you kept promising to do but you never, ever did. (Time expired)
Paul Scarr Queensland, Liberal Party
2:02 pm
It hardly inspires confidence, does it? Before the election, the Prime Minister claimed that Australians would have cheaper mortgages under Labor. With inflation continuing to rise under Labor, an average family with a $750,000 mortgage is already paying $22,000 more each year. Is this what the Prime Minister meant by 'cheaper mortgages'?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
2:03 pm
I thank Senator Scarr for his first supplementary question. We do understand the hurt that ordinary Australians are feeling as a result of those increases in mortgage rates. Of course, the first point I'd make is that those increases started under your government and were a product of decisions—
Okay, Senator Scarr.
Opposition senators interjecting—
No, the surplus didn't start under your government. The surplus started under this government. The fact that you keep—
Simon Birmingham SA, Liberal Party, Shadow Minister for Foreign Affairs
But interest rates—you don't take any—
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
Who's asking the questions? Is it Scarr or is it Birmingham? President—
Simon Birmingham SA, Liberal Party, Shadow Minister for Foreign Affairs
You're not answering any of them.
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
That isn't true. I am answering. I'm answering directly the question that Senator— (Time expired)
Opposition senators interjecting—
Sue Lines President
Order on my left! The constant interjections are disorderly. Senator Scarr, second supplementary?
Paul Scarr Queensland, Liberal Party
2:04 pm
The Prime Minister said in January, before his disastrous referendum campaign, 'My new year's resolution is just to continue to deal with cost-of-living pressures.' With Australians facing high mortgage payments as they head to Christmas and having to juggle high grocery prices and higher energy bills, why have the Treasurer and the Prime Minister still not released a comprehensive plan to get inflation under control and put downward, rather than upward, pressure on interest rates?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
2:05 pm
I thank Senator Scarr for his second supplementary question. Well, just on the referendum, the Prime Minister—
Bridget McKenzie Victoria, National Party, Shadow Minister for Infrastructure, Transport and Regional Development
Down! Down!
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
the Prime Minister went to the last election saying he would hold a referendum on an Indigenous Voice—
Paul Scarr Queensland, Liberal Party
You're still talking about the referendum.
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
for the Australian Constitution, and he did exactly what he said he was going to do.
Honourable senators interjecting—
He put the referendum—
Simon Birmingham SA, Liberal Party, Shadow Minister for Foreign Affairs
He also promised cheaper mortgages. How's that going, Don?
Sue Lines President
Senator Birmingham, I have just sat the minister down because of the interjections, particularly on my left. Thank you, Minister. Please continue.
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
The Prime Minister of this country stuck to his guns. He said he was going to do it and that's what he did. Regrettably, the Australian people said no, and we accept their decision.
Since that time, of course, we have been putting downward pressure on inflation. What did the coalition—your parties—do?
Don Farrell SA, Australian Labor Party, Minister for Trade and Tourism
They voted against lower energy prices, they voted against cheaper child care— (Time expired)