Responsible Economic Management

18 March 2024

I really welcome the opportunity to reflect on Senator Kovacic's question at the start of question time today, because it's an opportunity to reflect on the many investments the Albanese Labor government is making in the people of South Australia and in cost-of-living relief, not to mention economic investments, investments in industry, investments in social policy and investments in payments. These are all, in my view, fundamentally good things. They reflect what is a clear distinction between us and those opposite in what you see as the role and value of government.

Now, I believe government can make an extraordinary difference in people's lives by making the right investments in social policy, making careful and considered investments in things like the payment system. I believe it is the role of government to support industry and to support opportunities for economic growth and development. That's reflective of the investments we have made over recent weeks and months and in the years we have been in government. Take a moment to reflect on some of those investments in recent weeks. I don't see anything to argue with. Investments in superannuation on paid parental leave are significant investments that will make a difference not just for the women who receive this payment but for how we conceptualise paid parental leave as a workplace entitlement in this country. It builds on the legislation which passed this chamber this very day and which was about expanding paid parental leave, maintaining the connection between employee and employer, seeing it as a workplace entitlement rather than welfare payment. That announcement was made in recent weeks. That announcement is going to make a significant difference in people's lives and in that reconceptualisation. It will make a significant difference in closing the gender pay gap and in women's retirement incomes.

Increases to indexation and the pension will benefit five million pension and allowance recipients, making a significant difference during what we all acknowledge to be significant cost-of-living pressures on Australians across the board but especially those who rely on them to make ends meet. Those indexation payments will make a significant difference. I don't think that expenditure is not well spent, and neither are the investments in Indigenous housing made in the Northern Territory in recent weeks. They are much-needed investments for communities who desperately need housing, improvements and upgrades, and this will make a difference. There is critical minerals industry support. That's a significant thing which I'm shocked the other side would be opposed to.

When you step back and unpack the investments and expenditure made, I believe you will see these are fundamentally good things which will make a difference in people's lives. That's the difference between our government and those opposite. We believe in spending to support our policy priorities and values. We believe in the role of government to support Australians and to promote and enhance industry. We believe in the role of government to drive increases in wages, which have been long overdue. That's why we advocated for and supported increases to the minimum wage as well as for aged-care workers. Of course, all these things need to be done in a responsible way. Need I remind those opposite that we delivered a surplus last year? You guys ordered the mugs but didn't actually deliver it on paper.

That's something our government has done, and every decision we have taken since coming to government has been designed not to add pressures to inflation, to be done in a responsible way and, of course, to do things that meet our social and economic policy objectives. We come to government to do something. In the Labor Party, we come to government to try to reshape our country and to try to reshape public policy so it's working better for a broader range of people—particularly so it's working better for those who are most likely to benefit from government investments, who are most likely be in need of government support, whether it be for their industry or their particular social or economic situation. We in the Labor Party believe in that. I think it's a quirky criticism to make of us that we would be making decisions like investing in paid parental leave, supporting increases to the payment system and making critical economic investments that will lead to further jobs and opportunities for generations of young people. These are fundamentally good things reflective of Labor values, and our budget as well will be reflective of Labor values because it will be responsible. We know a responsible budget is critical to us being able to deliver for Australians and to deliver for South Australians, as we will continue to do as long as we're in government.