QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:24): The senator refers to the RBA governor. This is what the RBA governor said in March: …if you look at what's happened to interest rate expectations for those other central banks, they're on holds. They were cuts.

She went on to say: … the whole Middle Eastern situation has resulted in obviously concerns about inflation and as a result a lift in expectations for central bank interest rates. The PRESIDENT: Senator McKenzie, on a point of order? Senator McKenzie: On direct relevance, that is a March comment.

There have been two interest rates increases since then. The PRESIDENT: Senator McKenzie, resume your seat. You are not in a debate with the minister, and when I call you to order I expect you to sit down.

Senator Watt interjecting— The PRESIDENT: Senator Watt, come to order. Minister Wong, please continue. Senator WONG: I am simply trying to explain to you that it is entirely relevant to talk about the Middle East and its consequence for inflation in our country and in the global economy.

That is entirely relevant. I know you might not think it is relevant but that is what we are seized of. We understand what is driving the inflation challenge.

We understand the need to be responsible in our budget—and we have been, and we will be. We understand the need to responsibly provide cost-of-living support and assistance to Australians, and this budget will. (Time expired)