QUESTIONS WITHOUT NOTICE

Dr CHALMERS (Rankin—Treasurer) (14:36): As the Minister for Employment and Workplace Relations told us a moment ago, we have seen real wages growth in the June quarter and we have seen nominal wages growth higher than three per cent for all four years of this Labor government. I know that the member for Melbourne, as a real champion of the working people of that wonderful city, is very pleased to see this government delivering nominal wages higher than three per cent all throughout our government—never once achieved by those opposite in the previous government.

When we came to office, real wages were falling sharply. They've risen in eight of the last 11 quarters in annual terms. They went up today in the June quarter, but we acknowledge that this persistent inflation challenge in our economy puts pressure on real wages.

We've acknowledged that in a number of different ways. This government has overseen higher nominal wages growth than we saw under those opposite. We're doing that.

Whether it's advancing workers during their working years or making sure that they've got a decent superannuation system when they retire, this government backs workers while those opposite attack them. We back them with stronger wages, and we back them with the strongest superannuation system—getting super to 12 per cent, payday super, super on paid parental leave and making sure that we strengthen this system, which is the envy of the world, to deliver economic security and retirement incomes for millions of Australian workers.

We're boosting wages. We're strengthening super. We're helping with the cost of living.

At the same time, we're strengthening the budget. We saw that recognised overnight when Moody's, the second biggest global ratings agency, in the course of the last couple of weeks reaffirmed Australia's AAA credit rating. They did that because of the responsible way that we have gone about managing the budget, getting gross debt down $200 billion lower than what we inherited and the trajectory that those opposite left us when we came to office.

I encourage the House to look at that Moody's statement overnight. It was effusive about the government's responsible economic management, another welcome and powerful endorsement of this government's responsible economic management. Whether it comes to wages, superannuation or managing the budget responsibly, the contrast couldn't be clearer.

Those opposite have already racked up another $110 billion in commitments in the forward estimates alone, more than half a trillion over the next decade or so. The shadow Treasurer says that he'll offset all that, but he won't tell us what that means for Medicare, wages or super. At the next election, the difference will be really clear: a Labor government and this Prime Minister backing workers, wages and super and strengthening the budget and those opposite—the Liberals, the Nationals and One Nation—who hate superannuation because they don't support working people.