CONSTITUENCY STATEMENTS

Ms BELL (Moncrieff) (10:14): The economic conditions created under this government are putting immense pressure on families, workers and businesses across my community. On the Gold Coast, we have one of the largest and most diverse business communities in Australia. I hear every day from business owners who are facing higher costs, higher taxes and a government that has no comprehension of the pressure they face.

Under Labor, government spending is now at its highest level in 40 years, outside the pandemic. Who cops the bill for the Prime Minister's spending spree? It's no secret that this socialist government is fundamentally opposed to private enterprise and, as a result, the spending bill has fallen disproportionately onto our small and family businesses.

Not only does this government spending take away from their livelihoods; it also drives up inflation for every single Australian. Who should be most concerned about inflation? Our first home buyers.

These Australians save every dollar they can so that, one day, they can put down a deposit on their first home. But as this government continues to spend, Australian savings accounts are defrauded by inflation. When inflation is too high, the value of their savings is quietly eroded and it buys less.

When economic growth is driven by private enterprise, investment and trade, it can mean more jobs, higher incomes and greater prosperity. But it's a far cry from the problem that we face today. Too much of the demand in our economy is being driven by government spending rather than by genuine productivity and private sector growth.

Ultimately, Australians are paying for that spending, be it the taxes of today or the $1 trillion debt we have sitting on the national credit card. When this government spends, Australians pay the price and none more so than those in my community on the Gold Coast. Let's talk about the debt.

The government likes to point to Australia's strong credit rating, but a credit rating does not make the debt disappear. The debt is increasing by $52,000 every 60 seconds in interest alone. The other point to be made is that this government debt is not the same as business debt, as business borrows to invest in something that will generate a return and strengthen their position for the future.

So I ask the government: can it honestly say every dollar it spent has been invested in something that will make Australia stronger and more productive? When a government cannot even get the basics right, it has no excuse for wasteful spending. While businesses borrow for their future, this Labor government has too often borrowed to buy votes.