Our careful economic management helps Australians with the cost of living today, at the same time as we set our country up for the future.
Back-to-back surpluses
Labor has delivered the largest consecutive surpluses in Australia’s history, helping fight inflation and reduce debt.
This was the first back-to-back surpluses in nearly two decades – and in dollar terms these are the biggest back-to-back surpluses on record.
Our back-to-back surpluses are helping in the fight against inflation, and that’s been acknowledged by the RBA Governor.
In a difficult global economic environment, the Australian economy has turned a corner. Growth is rebounding solidly, inflation has moderated substantially, unemployment remains low, real wages are growing again, and now interest rates have begun to fall.
The facts are:
• The Budget deficit is almost half it was projected to be under the Liberals if they won the last election.
• Labor’s responsible budget management has avoided more than $60 billion in interest costs
• Found $94.1 billion in responsible savings and reprioritisations
Now is not the time for Dutton’s cutting and wrecking to pay for his $600 billion nuclear power fantasy that will jack up energy bills.
Bringing down inflation
Inflation is now less than half of what it was when Labor was elected.
When the Liberals were voted out, inflation was rising, real wages were falling & interest rates were rising. Labor’s got inflation down, wages rising, unemployment steady at historic lows and interest rates are coming down.
We made a choice to turn things around without leaving people behind.
Now is not the time for Peter Dutton’s cutting and wrecking.
Created 1 million jobs
More than 1 million jobs have been created under the Albanese Labor Government – the most ever in a single term of government.
Strengthening trade
We’re supporting small businesses and opening Australia up to new markets for our world-class exports and creating more well-paying, secure jobs at home.
Supporting parents
Labor is providing more support, more financial security and more flexibility for parents. That’s why we’re extending paid parental leave to six months. And we support parents working from home.
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