Opened the debate
O'Brien argued that the government's spending has led to record-high inflation, breaching the Reserve Bank of Australia's target band, and added $100 billion to the national debt, projected to reach $1.2 trillion by the next election. O'Brien claimed that expenditure was rising four times faster than the economy, resulting in higher costs for households, including increases in food, education, housing, insurance, and energy prices. O'Brien asserted that the government's reliance on a revenue windfall has created a structural deficit, forcing them to consider further tax increases to cover a $20 billion shortfall from abandoned capital gains tax proposals. O'Brien characterised the government's approach as fiscally irresponsible, saddling future generations with debt and failing to control the cost of living.