Economy
Background
Recent ABS data indicated a rise in inflation, prompting concerns about potential interest rate increases and the government's previous assurances regarding economic stability.
Question
The member asked why Australians were bearing the cost of the government's economic management, given that inflation had risen despite promises that it was under control and that the corner had been turned.
Answer from Anthony Albanese
The Prime Minister acknowledged ongoing cost-of-living pressures and attributed the recent inflation tick-up to the withdrawal of state energy subsidies. He contrasted the current situation with the higher inflation rates experienced under the previous government, noting that the Coalition had delivered profligate budgets and increased debt. He highlighted that the government had achieved budget surpluses and reduced deficits, while implementing tax cuts for all taxpayers and securing eight consecutive quarters of high wage growth. He stated the government would continue to deliver cost-of-living relief to assist households.
Summary in reported speech - not a transcript. AI-generated, so check the source.