The Albanese Labor government is committing to easing the cost-of-living pressures for all Australians. The government has demonstrated this in so many ways: in health, by increasing bulk-billing and reducing the cost of PBS medicines; in education, by free TAFE and cutting student debt; in energy, with bill relief; and, not in the least, tax cuts.

On the latter, this government is returning more money to the pockets of taxpayers—not some but all 14 million. From aged-care workers to those in retail, from truck drivers to teachers, everyone benefits from Labor's tax cuts. Unbelievably, those opposite, in the lead-up to last year's election, opposed Labor's latest round of tax cuts, and the electorate judged them accordingly. The tax cuts beginning on 1 July are modest: up to $268 per year. But, of course, they will make a difference. When viewed cumulatively, as a package which began with the first round of tax cuts in 2024, they mean the average taxpayer is expected to be taking home around $43 more a week.

Labor still believes you should keep more of what you earn, and the latest round of tax cuts proves this. Labor's tax cuts return bracket creep and increase financial rewards from work. This is great news, and it makes me very proud to be a member of this Albanese Labor government.


Link to Hansard: Full Speech