LIBERALS AND NATIONALS PROPOSE A REAL ALTERNATIVE TO LABOR’S DISAPPOINTING BUDGET
Federal Member for Riverina Michael McCormack says the 2024-25 Budget handed down by the Labor Government is an election sweetener that doesn’t adequately address the key issues impacting upon Riverina and Central West residents.
Labelling it as “a typical Labor Budget” — Mr McCormack said regional, rural and remote Australians have missed out yet again, and it is only the Liberals and Nationals who, in their Budget in Reply, proposed the necessary policies to bring down inflation, ease the housing crisis and restore the Australian dream.
“Labor has stayed true to its ethos — full of spin and bereft of substance, particularly for those in the Riverina and Central West who are certainly worse off now than they were when the Coalition was in Government,” Mr McCormack said.
“Right now, as a consequence of Labor’s policies and its lack of innovation, Australians are struggling. Australians are now poorer than they were two years ago. Rent and mortgages are at all-time highs, the cost of groceries is significantly more expensive than it was two years ago, aspiring first home buyers feel like they’re losing in the race to save for a deposit and our GDP per capita has been in decline for the last three quarters. In fact, the average Australian with a mortgage is now more than $35,000 worse off.
“I was hoping Labor would take heed of the issues concerning Australians and would try to address them in its Budget but, perhaps unsurprisingly, the Budget has been met with disappointment and outrage from across the political aisle.
“It seems, whenever Labor’s policies fail it throws cash at the problem like a magician using a smoke screen to hide what’s really happening — its ideological pursuit of renewable energy targets is pushing energy prices up and its planned one-off $300 payment — a mere $75 a quarter — will not go anywhere near undoing the damage it has caused. In fact, the average annual electricity bill has increased by up to $1,000 since Labor came to power.
“Australians want an ongoing reduction in power prices, not a $300 pity payment in recognition of Labor’s failure — and lack of attempt — to achieve its 2022 promise for a $275 cut to power prices. A policy like this is simply a poorly veiled attempt to buy your vote in the upcoming election. Instead of bringing prices down, they’ve just stuck the bill on the nation’s credit card, to be paid for by taxpayers in the future.
“I’m also really disappointed by the lack of focus on improving regional health. Whilst the Coalition has welcomed the $3.4 billion to add life-saving medicines to the Pharmaceutical Benefits Scheme, there is a catch — some people will pay more for scripts as Labor is scrapping the option for chemists to discount the Pharmaceutical Benefits Scheme medicine charge by $1.
“Moreover, little is being done to resolve the shortage of healthcare professionals which are desperately needed to deliver better health outcomes.
“Labor has allocated $90 million to make it easier to bring in international health practitioners, but we need a long-term solution, we need to ensure we are training enough health professionals right here in Australia — that’s what I advocated for in the Coalition Government. We delivered the $95.4 million Murray-Darling Medical School Network which saw five rurally based university medical school programs established across regional New South Wales and Victoria. The Coalition saw the value in training Australian doctors in regional Australia, with the intention they would stay in regional Australia when they graduate. I’m disappointed to see Labor hasn’t put the same thought into seeking a long-term solution to our health professional shortage as the Coalition did.
“Farmers in the Murray-Darling Basin are also right to be worried as a result of Labor’s Budget with the funding allocated to the Murray-Darling Basin Plan hidden and marked ‘nfp’ (not for publication). This should send shivers down the spines of irrigators across the region, because we know Labor has a track record of disregarding farmers’ concerns and it is happy to spend billions of dollars in reclaiming water, away from food and fibre production as well as job creation in river and irrigation communities.
“Further to Labor’s ignoring of regional Australia, it seems they haven’t done their homework by visiting the regions before deciding to axe the Mobile Black Spot Program which will now cease in 2026/7.
“Anyone that has gone for a drive throughout the Riverina and Central West knows more needs to be done to improve phone connectivity. Phone connectivity can save lives and it’s really disappointing to see Labor plans to scrap this important program.”
Whilst Mr McCormack has labelled Labor’s Budget as “wasteful” and “disappointing”, he welcomed some of the Budget’s measures which were urgently needed.
“I’ll give credit where it is due — the $1 billion towards providing accommodation for women and children fleeing domestic violence is welcomed, particularly in light of recent events which have shaken and saddened the Riverina and Central West. I have written to Minister for Women Katy Gallagher to request our region receives the due investment it deserves as part of this funding,” Mr McCormack said.
“I also welcome the $925 million for the Leaving Violence Program — a continuation of the rebadged Escaping Violence Program established by the former Coalition Government in 2021. However, I’m really disappointed to see Labor thought it was necessary to be so partisan about such an important issue by spending money, which should otherwise be going to domestic violence victims, to go to the bureaucracy to rename the program.
“There has also been $519.1 million allocated over eight years to the Future Drought Fund, established by the former Coalition Government in 2019. I know many farmers will be appreciative of this investment and I am pleased Labor has seen the value of our program.
“Finally, Parkes is set to receive $5 million for a business case and progression of technical and environmental planning for an intermodal terminal which will support the more than $30 billion Inland Rail project delivered by the Coalition. When delivered, I hope this will help boost the economy of Parkes by being a key freight hub, but I’m also still calling upon the Government to ensure Inland Rail is completed in full, all the way from Melbourne to Brisbane.
“Whilst these investments are good, there is just still too much waste in Labor’s Budget and not enough to resolve the issues affecting Australians today.
“I’m pleased to say the Liberals and Nationals are putting together a comprehensive suite of policies to take to the next election to fix the big issues Labor is ignoring.”
In his Budget in Reply speech, Opposition Leader Peter Dutton revealed some of the policies Australia needs to get back on track and repair the damage Labor has done.
“The nation cannot continue to go down Labor’s reckless spending agenda, which has lifted by $315 billion over three Labor Budgets — equating to $30,000 per household,” Mr McCormack said.
“Labor has also been wilfully ignoring immigration levels in its attempt to artificially keep up economic growth, purely through population increases, whilst our productivity is going backwards.
“This surge in population has put significant strain on our housing stock and needs to be better managed to help address our housing crisis.
“In just two years, the Government has brought in an additional 923,000 migrants but has only built 265,000 homes, according to available data.
“A Coalition Government will reduce permanent migration from 185,000 to 140,000 for the first two years as well as implement a two-year ban on foreign investors and temporary residents purchasing existing homes to provide aspiring Australian homeowners some reprieve as well as support getting the appropriate infrastructure and housing supply in place first — instead of perpetually playing catch-up.
“The Liberals and Nationals will also not provide $13.7 billion in corporate subsidies for billionaires, as Labor plans to do with its hydrogen and critical mineral tax credits.
“Business should be able to stand on its own two feet. It is not the responsibility of the Australian taxpayer to prop up Labor’s friends in the green energy industry.
“Instead, the Coalition commits to adopting the sensible position of 20 other top economies in the world by embracing the use of zero-emission nuclear power.
“Australia needs cheap, reliable and safe zero-emission energy.
“Opening up Australia to the use of nuclear energy is the desperately needed solution to our energy woes.
“Together, the Liberals and Nationals commit to also providing lower, simpler and fairer taxes whilst also cutting red tape which strangles innovation in our economy.
“The difference is clear. Australia can continue to stagnate under Labor or it can embrace the policies the Liberals and Nationals are putting forward to get Australia back on track.”
ENDS