Madeleine King: Election is a very simple choice as Australia’s economy turns the corner
Australia’s economy is turning a corner, even as uncertainty grows around the world.
The Albanese Government knows cost of living is front of mind for Australians.
Dealing with those cost-of-living pressures has been at the centre of all four budgets handed down by Treasurer Jim Chalmers.
This week’s Federal Budget provided even more relief for Australians. It provides more tax cuts, energy bill relief and cuts to medical bills.
The combined benefit for an average household will be more than $15,000 from this Government’s three rounds of tax cuts and from energy-bill relief alone.
But as well as helping out those doing it tough, this Budget sets us up for the future.
The Budget papers show how the Australian economy is emerging from a global cost‑of‑living crisis in better shape than anywhere else. There is nowhere in the world you would rather be.
Inflation is down and interest rates are coming down. Living standards are rising and real incomes are growing. Unemployment is low and the economy is growing.
This is no accident. All of this is the result of the hard work and good planning of the Albanese Government.
This election will be about the strong economic foundations we have laid. Foundations that set this country up for the future.
The Albanese Government have been working to get Australians through a tough time, while setting our economy up for the future.
We are making our economy stronger, more dynamic and more resilient.
Our Future Made in Australia plan sets us up for the future with investment in critical minerals, rare earths and hydrogen.
Future Made in Australia will help us create those good, well-paid and highly skilled jobs for future generations of Australians.
And it puts West Australians at the heart of this Government’s economic agenda.
The economic turnaround we see in the Budget papers appears even more remarkable when we look around the world and see how other countries are faring and when we consider the extreme global uncertainty that we now face.
This Government’s fiscal policies have helped break the back of inflation, while also preserving economic growth and keeping up the strength of our employment market.
This week we saw quarterly inflation data sitting at 2.4 per cent. When the Albanese Government took office, inflation was more than double that number and rising.
And we have delivered all of our cost-of-living measures in a responsible way so as not to undermine the fight against inflation.
The Budget papers show employment growth this year will be stronger and inflation will come down faster.
This election is now a very simple choice. A simple choice between Labor cutting taxes, strengthening our economy and helping with the cost of living.
Or it is a choice of Peter Dutton’s cuts which will make Australians worse off. Cuts to pay for nuclear power plants in places like Collie.
The Liberals and Nationals are in no position to talk about the economy. It left us with a giant mess, and we are cleaning it up.
The Opposition has no plan other than to cut and wreck.
On Thursday, shadow treasurer Angus Taylor said the Coalition would abolish all of the Government’s tax cuts.
That’s all of the Government’s tax cuts — not just those delivered in this week’s Budget.
The Coalition is now going to an election that is committed to higher taxes for every Australian taxpayer.
A vote for Labor is a vote for higher wages and lower taxes. Keeping more of what you earn.
Peter Dutton as prime minister will see Australians earning less and paying more. Peter Dutton will cut everything except your taxes.
Australia has turned the corner. This election will be about where we go next.
We have more work to do, but in an uncertain world, this Government is creating prosperity and a better future for all Australians.
Madeleine King is the Minister for Resources and Northern Australia
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