Well, perhaps one of the most damning facts of all is that the level of consumer confidence in this country is at its lowest point in 50 years. That is truly a damning statistic, because one of the fundamental obligations of the federal government is to provide confidence to the Australian people—confidence to employ their fellow Australians, confidence to spend and invest, and confidence to live their lives as they deserve to in our beautiful country.
Yet consumer confidence in Australia is at its lowest level in 50 years, and we are hearing that directly from everyday Australians, certainly in my home state of Queensland.
It is hard for the Australian people to have confidence in the Labor Government because of the mixed messages it has been giving on oil supply during this crisis. As the number of petrol stations running out of fuel increased from 600, to 700, and now to over 800, we had—hard as it is to believe—Minister O’Neill last week claiming there was more fuel supply in Australia than before the crisis. What sort of parallel universe is the Minister living in? I do not know whether she has since changed her position, but I am certain she will not be quoted in the Prime Minister’s address this evening. I am sure he will not be quoting Minister O’Neill in that regard—absolutely not.
At the same time, we have farmers sleeping next to their equipment because they are so concerned that people, desperate for diesel, will come onto their properties and steal fuel. How did we get into this situation? It is quite extraordinary.
As Senator Scarr correctly observed, one of the best indicators of the standard of living of average Australians is real household disposable income—how much money households actually have in their pockets to spend on the things they need. The fact of the matter is that, in real terms, after accounting for inflation, real household disposable income has fallen by 7 per cent from mid‑2022 to mid‑2025. And it just keeps going down under the Labor Government. There is no one they can blame except themselves.
At the same time, we have seen a significant increase in income tax paid by Australians. Income tax collections have risen from $242 billion in 2022—an extraordinary figure in itself—to $325 billion. That is an increase of $83 billion in just three years. Senator Sharma rightly points out that this represents a 34 per cent increase. That is extraordinary.
So while the government has been receiving this wave—this tsunami—of income tax revenue, it has been spending like a drunken sailor. The result has been massive inflationary pressure, which has hurt Australian families and contributed to the 14 interest rate rises we have experienced under the Labor Government.
Earlier today, I quoted the Chief Economist of Westpac, who is predicting a further three interest rate increases for the remainder of the year. That would mean an extra $27,000 a year in interest payments for Australians with an average mortgage—$27,000 more paid by an average Australian family under Labor. An extraordinary sum.
Inflation continues to rise, and Australians are being hit from all sides in a cost‑of‑living crisis, all while receiving mixed messages from the Labor Government. And yet the Prime Minister has the audacity to deliver a national address after parliament rises.
