House of Representatives

Answer from Jim Chalmers

The Treasurer stated that negative equity remains very limited, affecting less than one per cent of borrowers according to the Reserve Bank of Australia. He cited Commonwealth Bank earnings data showing only half a per cent of their book was in negative equity, a figure lower than the same period last year. He contrasted this with April 2019, when the RBA reported that more than two per cent of borrowers had negative equity during the previous government's term. The Treasurer attributed current market conditions to multiple factors, including interest rate increases and global uncertainty, rather than government policy.

Answer from Anika Wells

The Minister explained that the digital duty of care would establish basic safety standards for digital services, similar to regulations for physical products. She noted that various community organizations and experts supported the measure, while the opposition had voted against recent social media minimum age laws. The Minister stated the government intended to introduce the bill to parliament the following month after consultation on the exposure draft. She emphasized that the legislation aimed to protect children from harmful content and give adults control over their feeds.

Answer from Jim Chalmers

The Treasurer argued that the current debt trajectory was $200 billion lower than inherited levels, with over 60 per cent of existing debt accumulated during the previous nine years of Coalition government. He attributed the rise in global bond yields to the escalation of conflict in Iran and broader global economic uncertainty, noting that markets in all major advanced economies were pricing in rate increases. He stated that the government's fiscal management had resulted in surpluses and revenue upward revisions, contrasting this with the opposition's unfunded commitments.

Answer from Jason Clare

The Minister stated that evidence showed excessive device use in schools correlated with lower academic results, citing PISA data where students using computers more than six hours daily scored 66 points lower. He noted that almost 40 per cent of Australian students were distracted by devices in class. The Minister announced that reducing technology use in schools would be on the agenda for the upcoming education ministers' meeting. He also highlighted the digital duty of care legislation as a measure to combat harmful algorithms affecting children.

Answer from Anthony Albanese

The Prime Minister affirmed Australia's commitment to a two-state solution and stated that Israeli settlements in the West Bank were illegal under international law. He explained that Australia had restricted travel and applied specific financial penalties against high-ranking Israeli ministers and extremist settlers involved in violence. The Prime Minister clarified that Australia was not pursuing a blanket import ban due to concerns about unintended consequences for Palestinians. He stated the government would continue to work with partners on targeted measures to deter illegal settlements.

Answer from Richard Marles

The Deputy Prime Minister highlighted the announcement of the Henderson Defence Precinct, which would host the construction of Mogami class frigates and maintenance of nuclear-powered submarines under AUKUS. He stated the precinct would eventually employ almost 6,000 workers and represented a $12 billion commitment, part of a larger $25 billion investment over the decade. He contrasted this with the previous government's record, noting that the current administration had increased defence spending by $117 billion in four years compared to $10 billion in nine years under the Coalition.

Answer from Anthony Albanese

The Prime Minister stated he was aware of the Royal Sydney membership and had declared it upon receiving a card, but he was unaware of the Marrickville membership. He explained that he received honorary memberships from various clubs over the years and declared those he knew about. He shifted focus to the opposition's election commitments, noting that none of their 1,000 projects were located in his electorate of Grayndler.

Answer from Jim Chalmers

The Treasurer stated that superannuation provided security for workers and reduced budget pressure, citing upcoming Intergenerational Report findings. He noted that international ratings agencies had reaffirmed Australia's AAA credit rating due to sound fiscal performance. He contrasted this with the Queensland government's fiscal deterioration and highlighted global economic uncertainty driven by Middle East conflict and rising inflation. He emphasized that the government's approach involved backing superannuation, delivering tax cuts, and restraining spending.

Answer from Anthony Albanese

The Prime Minister denied misleading the House, stating that the funding was part of pre-announced election commitments. He listed three commitments for his electorate, including the golf club upgrade, which included sewerage repairs to prevent river pollution during floods. He contrasted the number of his election commitments with the opposition's larger list.

Answer from Tanya Plibersek

The Minister stated that the government was investing close to $70 billion in the age pension, with the maximum single rate increasing by $6,500 since taking office. She explained that superannuation reduced the long-term cost of pensions as a share of GDP, keeping it below two per cent compared to the OECD average of nine per cent. She argued that weakening superannuation would increase the burden on working-age taxpayers to fund pensions. She contrasted the government's approach of higher wages and superannuation with the opposition's stance.

Answer from Anthony Albanese

The Prime Minister explained that in 2019, he supported a campaign to save the golf course from being converted into passive space by the Greens. He noted that the golf course was not in his electorate of Grayndler at the time, but rather in Barton during the period from 2016 to 2025. He emphasized his role in defending green space in the Inner West.

Answer from Daniel Mulino

The Assistant Treasurer highlighted measures such as payday super, super on paid parental leave, and strengthened low-income super tax offsets benefiting 1.3 million Australians. He criticized the opposition and One Nation for attacking superannuation, citing quotes from Liberal and National politicians describing it as a policy failure or communism. He argued that the government's approach of tax cuts and wage increases provided better cost-of-living relief than the opposition's proposals.

Answer from Richard Marles

The Minister referred to the Prime Minister's earlier answer, reiterating that Israeli settlements breached international law and hindered peace. He stated that Australia had already imposed sanctions and bans on individuals involved in settlements and violence. He confirmed that the government would continue to look at further targeted measures in collaboration with allies to support a two-state solution.

Answer from Madeleine King

The Minister stated that the national gas reservation scheme would secure gas for Australian households, businesses, and industry, driving jobs in manufacturing and resources. She explained that the policy required exporters to set aside a portion of gas for domestic use before exporting the rest. She attributed the need for reform to a poor gas policy inherited from the previous government, which left Australia unprepared for global energy crises. She emphasized that the scheme would provide energy security and support local manufacturing.

Answer from Anthony Albanese

The Prime Minister stated that he had supported a campaign to save the golf course in 2019, led by local member Linda Burney, to preserve green space in the Inner West. He contrasted his government's project commitments with the opposition's larger list, noting that none of the opposition's projects were in the Inner West.

Answer from Pat Conroy

The Minister said that mandating gas exporters to hold back up to 20 per cent of their output would create a slight surplus in the local market, reducing costs for homes and businesses. He claimed that cheap power was vital for backing manufacturing and national strength, unlike the former government's shutdown of refineries and shipyards. He stressed that the measure would assist manufacturers in staying competitive worldwide by supplying dependable and low-cost energy.

Answer from Anthony Albanese

The Prime Minister stated he had not seen the bill but acknowledged the importance of debating AI's impact, citing concerns raised by Pope Leo. He emphasized the need to shape the rollout of AI to balance economic opportunities with risks to humanity. He noted the establishment of a parliamentary Joint Select Committee on Artificial Intelligence to discuss these issues seriously. He encouraged the member to engage with the committee process.