Opened the debate
Caldwell argued that the government had failed to lower inflation sufficiently, forcing the Reserve Bank to increase borrowing costs to 4.1 per cent while other advanced economies kept rates on hold. Caldwell stated that Australians were paying approximately $27,000 more annually in mortgage interest compared to the previous administration. Caldwell claimed that record government spending had pushed national debt over $1 trillion, resulting in daily interest payments of $72 million. Caldwell asserted that these fiscal policies left the nation exposed to global disruptions and increased living costs for households and businesses.