Economy
Background
The Leader of the Opposition challenged the Prime Minister's previous claims that inflation was under control, citing the 13th interest rate increase and increased mortgage costs for Australians.
Question
The member asked whether the Prime Minister maintained his position that inflation was under control, given the recent interest rate hike and the financial pressure on mortgage holders.
Answer from Anthony Albanese
The Prime Minister acknowledged cost-of-living pressures but stated that inflation had decreased from nearly 8 per cent to the low single digits. He cited an OECD report indicating that Australia avoided recession and that real incomes had risen since 2022, unlike in many other OECD economies. He criticized the opposition for failing to outline their budget plans and for proposing tax increases and nuclear energy funding.
Summary in reported speech - not a transcript. AI-generated, so check the source.
Read on OpenAustralia · Official Hansard (APH) · 1 point of order raised