MATTERS OF PUBLIC IMPORTANCE
Mr KENNEDY (Cook) (16:34): Unfortunately, right now, right across Australia, inflation is running riot, and Australian consumers and Australian businesses are paying the price. Today I heard a story of a business owner worried about self-harm because he risks losing his business because of the increase in fuel costs. I met a woman in Sans Souci in my electorate in tears, losing her house because she can't make the interest repayments.
These are the many stories, the many faces, of this cost-of-living crisis right across Australia—people who don't have a voice, who don't have a voice in this parliament, who can't stand up and change these circumstances. But us in this building, we do. We do have a voice.
We can do something about it. Prior to this fuel crisis, Australia was not well-positioned. We had the highest inflation of any advanced economy in the world.
Australians rightly expect a national government should be sheltering them, protecting them from external shocks. Instead, Treasurer Chalmers has left the Australian people, the Australian business owners, flailing in the wind with the highest inflation in the advanced world, more than the US, more than the UK, more than the EU, more than Japan, more than Canada, more than any other advanced nation.
We're out there flailing in the wind for this fuel shock to come along and hit us, and it's going to hit us harder than any of those countries because of where this Treasurer has left us. And what has he done in his time? He's increased government spending to a 40-year high, the highest that it has ever been since 1986 outside the pandemic.
The Reserve Bank Governor herself admitted that this is adding pressure to inflation and interest rates. This is contributing to that poor man I heard talking about self-harm for his trucking business. Ms McBain: How do we help?
Mr KENNEDY: How do we help? That's a really good question. I'll take the interjection on how we help because yesterday we asked the energy minister about fuel.
We said, 'Can you explain the fuel reserves in South Australia, Northern Territory and Tasmania?' Instead of actually answering where the shortages were, the energy minister cut short his answer, never answered the question, said 'I'm done' and sat down. Well, I was pleased that overnight someone gave the energy minister those numbers so he was able to report them.
The president of the IAA said this week that this is going to be a fuel crisis worse than what we saw in the 1970s. You would think the energy minister himself would know the numbers of shortages in SA, in Tasmania, in the Northern Territory. He could not answer the question.
Today in question time he was asked about demand rationing. He said, 'Well, someone will be appointed to look at a national strategy.' What does he think his job is? Who's going to be appointed?
We need the energy minister to lead and look at this demand rationing. While inflation is just burning down Australia, fuel is in everything. It's in food.
It's in agribusinesses, where they need diesel to plant seeds and harvest crops. It's in freight, in agriculture, in construction, in concrete, and in cars getting Australian mums and dads around. Yet right now we have over 400 petrol stations out, with an energy minister who 24 hours ago could not tell us where those outages were.
Energy markets are up 40 per cent. This minister has lost control. He's lost control of energy.
He's lost control of fuel. It's like a runaway train and he has no idea how to get it back on track. We live in perhaps the most energy-abundant country in the world.
We have oil. We have the world's largest deposits of uranium. We have solar and wind, some of the best resources.
We have gas, uranium and coal. So why don't you explain to me— Opposition members interjecting— Mr KENNEDY: I'll take the interjection. Why don't you explain to me why we have some of the highest energy prices in the OECD?
Why is that the case? I don't hear anything. I hear crickets.
I hear those opposite talking about five years ago when we were in government. Well, we live in one of the most abundant nations in the world. The proof that this minister does not understand markets: 97 times before the last election, he stood there in front of Australians and said, 'Energy prices will go down $275.' Well, there's only one thing; he does not understand how energy markets work, be it electricity, be it oil, be it gas or be it petrol.
And unfortunately, men like that man who's worried about losing his business are paying the price. (Time expired)