Question Time AU

Matter of Public Importance

Cost of Living

House of Representatives · Wednesday 4 February 2026

Official Hansard for this day (APH) · Read this debate on OpenAustralia

At a glance

The debate centred on the impact of rising interest rates and inflation on Australian households, with the National Party attributing these issues to Labor's spending and energy policies. Government members defended their record, citing cost-of-living relief measures, tax cuts, and infrastructure investments. The Nationals argued that the government's approach was driving up costs and hurting families, while Labor members contended that they were actively addressing these challenges through targeted support and responsible fiscal management.

Outcome

No vote was taken as this was a Matter of Public Importance.

Summary in reported speech - not a transcript. AI-generated, so check the official record before quoting.

How the debate unfolded

Opened the debate

Littleproud argued that the Treasurer was responsible for 13 interest rate rises, adding $23,000 to mortgage bills and reducing real wages to 2011 levels. Littleproud claimed that government spending of $50 billion in six months fuelled inflation, citing increases in education, electricity, insurance, food, and rent costs. Littleproud attributed housing supply issues to migration policies that prioritised non-skilled migrants over tradespeople. Littleproud proposed scrapping the safeguards mechanism penalty, expanding the capacity investment scheme to all energy sources, and changing the Australian Energy Market Operator's mandate to prioritise affordability over renewable targets.

Government response

McBain stated that the government had voted for caps on gas and electricity prices, energy bill relief, and reduced PBS medicine costs, which the opposition opposed. McBain highlighted measures such as waiving HECS fees for rural health workers, creating five per cent deposit schemes for first home buyers, and providing $5 million for regional councils affected by Cyclone Rex. McBain noted that PBS medicine prices were reduced to $25, the lowest since 2004, and that over 120 Medicare urgent care clinics had opened. McBain emphasised investments in bulk-billing, home batteries, child care, and disaster recovery funding for bushfire and flood-affected communities.

Opposition response

Conaghan criticised the government for focusing on political questions rather than addressing the 13th interest rate rise, which adds $1,300 annually to household costs. Conaghan argued that electricity prices had risen by 38 per cent and gas by 42 per cent, contributing to the highest business insolvency rate in 35 years. Conaghan claimed that the government's net zero ideology was driving up costs and that the Treasurer needed to take responsibility for the economic situation. Conaghan stated that families were struggling to afford basic necessities like food and pharmaceuticals.