On Track, But There’s More To Do

This week, the Reserve Bank announced it would reduce interest rates, a welcome first-step for families across North-West Sydney who are among the highest rates of household mortgage holders in Australia.

One interest rate cut will not fix the cost-of-living pressures felt by local residents, however, the worst of the inflation challenges are now behind us.

When the Coalition left office, inflation was higher and rising. Under Labor, inflation is almost a third of what it was, and falling.

1.1 million new jobs have been created since May 2022 – the lowest average unemployment rate for any government in half a century.

Critically, real wages are increasing after a decade of being supressed. This is affirmation of an economy that is improving.

Indeed, helping Australians find work and delivering higher wages is one of the best supports for households under pressure.

I know progress in national numbers doesn’t translate into lived experience, that’s why I am intent on ensuring our plan for the future improves quality of life, liveability, and is focused on people.

As the Treasurer, Jim Chalmers, has said: there’s much more to do.

This includes areas of housing affordability, bulk-billing, and ensuring supermarkets treat customers fairly on grocery pricing.

The reality is the biggest risk to household budgets and the economy is Peter Dutton.

A household with two average full-time workers would have been around $7,200 worse off under Mr Dutton, based on his opposition to wage increases, tax cuts and energy bill relief alone.

The Coalition has also opposed energy relief and say they will end Free TAFE.

Mr Dutton would risk the economy by spending $600 billion of taxpayers’ money on nuclear reactors, without explaining what cuts the Coalition would make to pay for this.

This would have the effect of not only increasing energy prices, but reducing essential services, leaving the North-West worse off.

In contrast, Labor is focused on building the future with positive policies that invest in infrastructure and expand health services, rather than policies that cut.

By working together, and with the right policies, we can build a better future for all.