Economy
Background
The Treasurer previously claimed government spending was not a factor in the recent interest rate rise, while the Reserve Bank governor stated that public demand's contribution had declined and private demand had increased.
Question
The member asked the Prime Minister to confirm whether the Reserve Bank governor was correct and the Treasurer was incorrect regarding the causes of the interest rate increase.
Answer from Anthony Albanese
The Prime Minister stated that the Reserve Bank governor identified private demand as stronger than forecasted and public demand as having declined, describing these as facts. He outlined government measures to ease cost-of-living pressures, including cheaper medicines, bulk-billing investments, urgent care clinics, student debt relief, and income tax cuts. He asserted that the government remains focused on improving lives regardless of opposition rhetoric.
Summary in reported speech - not a transcript. AI-generated, so check the source.