Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Finance, Senator Gallagher. In the face of substantial economic uncertainty, the Australian economy has proven to be remarkably resilient. Since the election of the Albanese Labor government, we've seen real wage rises, low unemployment and lower inflation than what we inherited from those opposite. Combined with significant cost-of-living relief, including energy bill relief—

Opposition Senators:

Opposition senators interjecting—

Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

I thought you might enjoy this question.

Sue Lines (President) Share this | Link to this | Hansard source

Order on my left! I need to be able to hear the question

Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

I don't know whether they heard it or not. There have been real wage rises, low unemployment and lower inflation than we inherited from those opposite—facts. Combine that with giving significant cost-of-living relief, including energy bill relief, and strengthening Medicare, and the government is focused on supporting all Australians.

Opposition senators interjecting—

Sue Lines (President) Share this | Link to this | Hansard source

I have called for order!

Senator McKenzie! How many times do I have to call you personally? And you just kept on interjecting. If you can't listen in silence, leave the chamber. That goes for you as well, Senator Bragg. Senator Dowling, have you finished your question?

Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

No, the clock didn't stop, President. So I'll just wrap up.

Sue Lines (President) Share this | Link to this | Hansard source

Ten seconds.

Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Minister, how is the Albanese Labor government supporting Australians while also strengthening the economy?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

():  Thank you, Senator Dowling, for the question and for battling through—

Hon. Senators:

Honourable senators interjecting—

Sue Lines (President) Share this | Link to this | Hansard source

Order across the chamber!

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I acknowledge Senator Dowling for battling through all that noise from those opposite. There were as many interjections coming from those opposite as there are feet going upstairs to give interviews against each other in the press gallery each day. You can't get a spot up there these days!

Sue Lines (President) Share this | Link to this | Hansard source

Senator Ruston, a point of order?

Anne Ruston (SA, Liberal Party, Shadow Minister for Health and Aged Care) Share this | Link to this | Hansard source

It's on relevance. As much fun as the minister might be having, maybe you could draw her attention to the point of the question.

Sue Lines (President) Share this | Link to this | Hansard source

The minister has just started her answer. I will listen carefully and, if necessary, will draw her attention to the question.

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

Thank you for a question on the economy. Since we've come to government, we've recognised that Australian households are facing cost-of-living pressures and we've been responding to that. At the same time we've been working with the Reserve Bank in order to make sure that inflation comes down and gets back into band. We know that that work is never done. But I think it is right that we, as Australians together, acknowledge the substantial progress that has been made over the last three years. Inflation has now been between two and three per cent for three consecutive quarters. While headline inflation increased last quarter, this was largely as a result of the end of state energy rebates, and it remains much lower than its peak. The Reserve Bank has cut rates three times this year.

We are seeing those cost-of-living pressures remain, and that's why we have focused on measures that help households—measures that those opposite voted against and now refer to as wasteful spending. We're working out how to get wages moving. Lower taxes—this is the government of lower taxes.

Opposition senators interjecting—

Well, we are. We're the only ones who went to the election promising to lower taxes. You promised to raise income taxes for every single working person in this country to pay for a $600 billion nuclear fantasy that some are still trying to revive. The government remain focused on the commitments we took to the election, on delivering on those commitments and on supporting households right across the economy.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Dowling, first supplementary?

Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

We'll see how we go this time. Recent economic indicators, including the reaffirmation of Australia's AAA credit rating—something we should all celebrate—point to confidence in the nation's outlook and capacity for growth. Minister, how do these developments position the Albanese Labor government to pursue future opportunities that will both strengthen productivity and deliver benefits for all Australians?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I acknowledge and thank Senator Dowling for that supplementary question. Pursuing productivity is key to ensuring we can continue to deliver better jobs and wages for all Australians. We on this side of the chamber know that we want Australians to earn more and keep more of what they earn. That is a very big distinction between us on this side of the chamber and those on that side of the chamber, who wanted lower wages, higher taxes and a $600 billion nuclear fantasy. That is what they offered the Australian people. We had a different plan.

We're investing through our National Reconstruction Fund. We're investing in skills. We've got our Future Made in Australia agenda. We've got the $900 million National Productivity Fund. We've landed our energy policy, and we're implementing that. Again, it's a bit of a sharp contrast to those opposite. We're making investments in our social infrastructure, in Medicare, in child care and in making sure that we're supporting women across the economy, and we will keep going. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Dowling, second supplementary?

Richard Dowling (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Minister, for outlining how focused economic management by the Albanese Labor government has improved economic resilience and improved the budget bottom line compared to what those opposite proposed. How does this turnaround demonstrate the importance of responsible economic leadership in achieving better outcomes for Australians?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I acknowledge the very high quality of your question, Senator Dowling; your experience as an economist; and the skills that you bring to the government and have brought to your contribution today. Since Labor was elected, inflation is down, debt is down, real wages are growing, unemployment is low and interest rates have fallen. We've delivered two surpluses. Remember that? We turned two Liberal deficits into two Labor surpluses. We've found savings. We're repairing the budget. We're making the investments we need right across the economy, in productivity and in our key social infrastructure, like early education and care, education, housing and Medicare. This is what this government is doing. We're pulling every single lever we can to make sure we support households and build the economy that future generations in this country deserve.