July 01, 2024

SCOTT LEVI, PRESENTER: Pat Conroy, the member for Shortland, which takes in a fair slab at the northern end. The Central Coast is on the line because it's Christmas in July. Is that right, Mr Conroy?

PAT CONROY, MEMBER FOR SHORLTAND: Well, it's a good day for families and workers in our area, Scott. From today, every taxpayer gets a tax cut, and that average tax cut will be $1,551. The minimum wage also has gone up today. Medicines have been frozen, and the $300 electricity rebate will start to flow from today as well. So I think it's an important day because the Albanese Government does know that people are doing it tough with the cost of living crisis.

LEVI: But inflation has gone up again. How do you rein that in? Because if we get tax cuts and energy rebates and cheaper medicines from today, that might all be absorbed by the fact that things just keep going up.

CONROY: Well the monthly inflation figures are jumpy, and I urge people to look at the quarterly inflation figures that are more stable and show inflation as falling over time. But that's why we've delivered the second surplus in a row, which is the first time that's happened in almost two decades. And that's why we've designed the $300 electricity rebate so it doesn't add to inflation. It comes off people's bills before they receive it.

So, we know we have to tame inflation and we're working very hard at that. But at the same time, we have to recognise that people are doing it tough, and that's why those tax cuts that average $1,551 are really important. Sorry, the average tax cut will be $1,551 in Shortland, for example. They're really important for all 13.6 million taxpayers in Australia, and we're going to keep working very hard to tame inflation and fix the cost of living crisis that people are suffering through right now.

LEVI: All right. Well, hopefully people see a difference in their tax return and also their power bills. Thanks for joining us on the program.

CONROY: Thanks, Scott. Have a good morning.