MATTERS OF URGENCY
Senator WHITEAKER (Western Australia) (17:17): In response to this motion put by Senator Collins, I remind the chamber that when Labor came to government the wage share of national income was sitting at 49 per cent. Today, under our government, it is 54.3 per cent—the highest it has been in a decade. That's because our government is creating jobs and getting wages moving again.
When we came to office real wages were in freefall, and it has taken sensible and disciplined economic management to turn that around. Let's be clear about where that damage that we inherited on coming to government came from. Two-thirds of the fall in real wages since the 2001 peak happened on the coalition's watch, so it's always a little strange when those opposite walk into this place and claim that they're better economic managers.
Frankly, the evidence just doesn't stack up. We shouldn't sugarcoat things. These are tough times.
Inflation is higher than any of us would like, and real wages have slipped in the most recent data. Globally, the pressure is on, and we know that it's tough for people out there, but, if we look at the bigger picture, wages have grown in eight of the last 11 quarters. Those opposite have shown, time and time again, that they don't believe in higher wages for Australians.
In fact, when they were last in government, they had a deliberate policy of keeping wages down. That's no solution to the cost of living for Australian families. Our government is focused on pulling every lever we can to help Aussie families while those opposite vote against our plan for higher wages and vote against our plan for tax cuts time and time again.
It doesn't make any sense. When we back workers, when we back families, the Liberal Party stand in the way. It's as simple as that.
Whenever we have stepped in to help Australians with the cost of living, those opposite have taken every opportunity to vote against it, to stand in the way of that work. Tax cuts, wage rises, our plan to build more homes, our tax changes for housing investors, cheaper medicines, bulk-billing, fully funding our public schools, better funding for public hospitals—the list goes on and on and on.
We're all familiar, I'm sure, with the line from Benjamin Franklin, 'In this world, nothing can be said to be certain except for death and taxes.' But what seems to be certain right now is that the Liberal Party will stand in the way of our work to help Australians with the cost of living. Labor has cut income taxes five times in five ways since coming to government.
That's $3,000 a year back in the pockets of the average workers by 2028. I don't see how those opposite can call that economic spin. That is real money back in the pockets of Australians.
We know people are doing it tough, and the first port of call is cutting taxes and lifting their wages. Does anyone in this chamber remember the genius idea the Liberals took to the last election? No, I'm not talking about the $600 billion nuclear plan.
No, I'm not talking about their attacks on working from home. I'm not even talking about their plan to gut the Public Service so that 41,000 Aussies would lose their jobs. I'm not even talking about their plan for higher taxes.
I'm talking about their idea that the bosses should get taxpayer funded lunches. I think some people in this chamber had forgotten about that, but I tell you what, I haven't forgotten about that. Absolutely insane.
That was their solution to the cost of living at the last election. It's almost laughable. In contrast, Labor wants workers to earn more and keep more of what they earn.
We will continue to do what we can to help Australians with the cost of living and to deliver real change.