Cost of Living Discussions in the Senate (26/03/2025)

• Cost of Living Crisis: Various senators articulated concerns about the impact of current policies on the rising cost of living. Senator Fatima Payman expressed dissatisfaction with the government’s budget, asserting that it fails to address critical social issues, including the cost of living crisis. This sentiment was echoed by Senator Dean Smith, who criticized the government for not adequately responding to mortgage stress and increasing living costs during his remarks on page 62.
• Housing Affordability: The issue of housing affordability emerged prominently. In his speech, Senator Nick McKim highlighted the concentration of wealth among the richest Australians and proposed measures such as capping rents and taxing billionaires to improve living conditions for those struggling with housing affordability (page 40). This proposal aims to alleviate pressures on those most affected by rising housing costs.
• Critiques of the Budget: Senator Dave Sharma criticized the Labor government’s budget as ineffectual in addressing household living standards, specifically highlighting that real government spending is outpacing economic growth (page 39). Similarly, Senator Hume condemned the government’s decisions relating to housing affordability and mortgage costs, arguing they are not in line with reducing financial burdens on citizens (page 61).
• Government Response: In defense, Senator Nita Green emphasized the budget’s significant funding for Queensland, highlighting benefits such as tax cuts and infrastructure investments aimed at easing overall financial pressures (page 39). Senator Stewart from the government pointed to job creation and cost-of-living relief measures as evidence of the government’s commitment to addressing economic challenges, countering opposition critiques (page 62).
• Budget Evaluations: The discussions around the Treasury Laws Amendment (More Cost of Living Relief) Bill 2025, introduced by Senator Katy Gallagher, were indicative of ongoing government efforts to mitigate cost-of-living issues. Despite proposed amendments suggesting higher taxes on corporations to fund essential services, these amendments were rejected, illustrating the contention surrounding fiscal strategies to address economic challenges (pages 138-140).
• Political Accountability: Throughout the session, senators from both sides showcased a keen interest in holding the government accountable regarding its handling of economic issues. Senator Brockman labeled the budget as a failure particularly in terms of housing support and small business provisions (page 76), reflecting a critical stance towards the government’s approach to managing the housing sector and associated costs.

These discussions encapsulate an ongoing discourse addressing the pressing economic issues of cost of living and housing affordability as key focus areas for various parliamentary members.