Opened the debate
Smith argued that the government had failed to prepare for geopolitical risks despite warnings from the Reserve Bank of Australia. Smith noted that Australia imports 80 to 90 per cent of its liquid fuels and relies on contested maritime routes, making the nation vulnerable to price shocks. Smith claimed that rising petrol prices were fueling inflation and interest rates, contradicting government assurances that inflation was under control. Smith asserted that the coalition was committed to protecting living standards and that the government's lack of a clear plan was causing community anxiety.