Opened the debate
Hume argued that living standards had dropped by over six per cent during the Labor government, citing increases in electricity, rent, insurance, and food costs. Hume claimed that government spending had driven inflation higher, with debt heading towards $1.2 trillion and interest costs rising for households. Hume stated that the Coalition's cost-of-living committee had recommended a national deregulation agenda and a reduction in government spending, which the government had ignored. Hume contended that the Reserve Bank of Australia had warned that living standards would continue to fall unless productivity issues were addressed and spending was reined in.