QUESTIONS WITHOUT NOTICE

Dr CHALMERS (Rankin—Treasurer) (14:32): Thanks to the member for Calwell for his really important question and the wonderful work that he does in his local community. On Monday, the government will be releasing the Intergenerational report, which is a really important snapshot of the serious economic challenges but also substantial economic opportunities that we will face as a country over the course of the next four decades.

It's a good way to help us plan, to make sure that our people are beneficiaries of all of this change that is accelerating in our society and economy rather than victims of that change. Whether it's the efforts that we're undertaking to make the housing market fairer for young people or whether it's our efforts to strengthen superannuation—this is all because we take our intergenerational obligations very seriously.

You can see that in our economic plan and you can see that as well when it comes to the progress that we've made in the budget. Monday's Intergenerational report will show that the bottom line in this IGR is stronger than it was in the last one, and that shows that our responsible economic management is making a meaningful difference. I want to quote from Monday's release.

It says this: 'Australia's fiscal outlook for the next 40 years has improved noticeably since the '23 Intergenerational report, but fiscal pressures remain. Compared to the '23 IGR, the UCB—the cash balance—is projected to improve by 1.2 percentage points of GDP. Gross debt is projected to decline over the coming decades, from 33.1 per cent of GDP to 22.2 per cent of GDP.

Compared to the '23 IGR, gross debt is 7.2 percentage points of GDP lower in 2062-63.' So what this shows is that, since the last Intergenerational report, the budget position has gotten stronger, and that's not by accident. It's because we've been paying down the debt we inherited from those opposite, finding savings, restraining spending and addressing some of the structural pressures in the budget as well.

The SPEAKER: The Treasurer will pause. I've absolutely had enough of the members for Casey, Maranoa and Forrest. Not another word.

This nonstop chirping is completely disrespectful to the people around you, to me and to the Treasurer. Not another word for the remainder of question time, or all three of you will go. Dr CHALMERS: Our responsible economic management is why Australia is one of only nine countries in the world that have a stable AAA credit rating from all three major agencies, and that was recently reaffirmed by S&P and Moody's.

By getting the budget in much better nick than it was under those opposite, we've made room for more of the things that Australians need and deserve: more investment in Medicare, aged care, housing and tax cuts. While we've made a lot of progress in the budget, we know that there's more work to do. We know the global economy is uncertain.

We know that the pressures on our people, on our economy here and on the budget are intensifying rather than easing. That's why our efforts to make the housing market fairer, to strengthen superannuation and to improve the budget over time are so important when it comes to the intergenerational obligations that we take seriously even if those opposite do not.