Economy
Background
The opposition leader claimed that Australia was the only advanced economy with declining living standards, contrasting it with rising standards in the US, UK, Germany, Canada, France, and Denmark.
Question
The member asked the Prime Minister when he would accept responsibility for the reversal of living standards over the previous four years, citing international comparisons where other nations had seen improvements.
Answer from Anthony Albanese
The Prime Minister rejected the premise, stating that Australia had faster economic growth, lower unemployment, and stronger employment growth than Canada, France, Germany, Italy, Japan, the UK, and the US. He noted that the UK and Germany had recently experienced recessions, whereas Australia had maintained budget surpluses and the smallest gross debt among G7 nations. He highlighted that the government was delivering a tax cut on 1 July and had created 1.2 million jobs, describing this as the best employment record of any advanced economy.
Summary in reported speech - not a transcript. AI-generated, so check the source.
Read on OpenAustralia · Official Hansard (APH) · 1 point of order raised