Opened the debate
Smith argued that the Reserve Bank of Australia minutes revealed a worsening economic situation contrary to government claims. Smith stated that international inflationary pressures and domestic issues meant families should prepare for higher interest rates through 2026 and early 2027. Smith claimed the economy was experiencing widespread inflationary pressures, weakening consumer sentiment, and poor productivity growth. Smith attributed these issues to record levels of government spending and denied the Prime Minister's commitment that life would be better under Labor.