Category Archives: Media Releases

Dutton, Sukkar, Smith, Evans – Media Release – Coalition Commits Funding to New Foodbank QLD Distribution Centre

THE HON PETER DUTTON MP LEADER OF THE OPPOSITION THE HON MICHAEL SUKKAR MP SHADOW MINISTER FOR SOCIAL SERVICES SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY MR TREVOR EVANS LIBERAL NATIONAL PARTY CANDIDATE FOR BRISBANE COALITION COMMITS FUNDING TO NEW FOODBANK QUEENSLAND DISTRIBUTION CENTRE An elected Dutton Coalition Government will commit $19.5 million for Foodbank Queensland to establish a new distribution centre in South East Queensland to deliver more critical food relief services across the state. This builds on the Leader of the Opposition’s announcement in his Budget-in-Reply speech of $50 million to help food charities – like Foodbank, SecondBite and OzHarvest – to expand their services, including school breakfast programs, to support Australians struggling under Labor’s cost of living crisis. Foodbank Queensland currently delivers over 13 million kilograms of food every year from its facility in Morningside, providing food to over 425 charities to assist families impacted by food insecurity. It also runs School Breakfast Programs in 425 schools, giving children access to a healthy breakfast and making sure they do not attend school feeling hungry. A new Foodbank Queensland Distribution Centre will include: 4,500 pallet spaces, which is triple the current volume; temperature-controlled zones allowing for enhanced food safety, quality and extending the shelf life of ambient, chilled and frozen products; dedicated areas for safe and efficient food delivery and dispatch; and multipurpose training space and office space for volunteers and staff. The Leader of the Opposition, the Hon Peter Dutton MP, who visited Foodbank’s Morningside site today, said this announcement highlighted the Coalition’s commitment to helping those in need. “Under Labor’s cost of living crisis, we know that charities are experiencing increased demand, including from Australians who have never previously relied on that support. Families are having to make difficult choices about whether they can afford the necessities like food, rent and medicine. The Coalition is committed to making life easier for all Australians, and ensuring our most vulnerable can access the support they need.” Shadow Minister for Social Services, the Hon Michael Sukkar MP said nearly 2 million Australian households of all age groups and demographics have experienced severe food insecurity in the past 12 months. “Under the Albanese Labor Government, Australians are experiencing the worst collapse in living standards in history. Real household disposable income has plummeted by 8 per cent, and the price of everything has soared by more than 10 per cent since the last election. “Unlike Labor, we have listened to the sector and know Australians need increased support now. Only a Coalition has a plan to fix Labor’s cost of living crisis and get Australia back on track.” Shadow Minister for Competition, Charities and Treasury, Senator Dean Smith, noted that Foodbank had reported that around 700,000 Queensland households experienced food insecurity last year, including 22% of households earning more than $95,000 and 25% of mortgage holders. “This significant investment in food relief will make a real difference on the ground where people are doing it tough. The new Foodbank Queensland Distribution Centre will be three times the size of the current facility, enabling Foodbank Queensland to expand its services to more families in crisis, including in regional and remote areas, and expand the School Breakfast Program.” Liberal National candidate for Brisbane, Mr Trevor Evans, said “People in Brisbane are doing it really tough right now, and it’s the same story for community and volunteer organisations like Foodbank. I’m really proud that this funding commitment will go some way to getting better outcomes and support for some of Brisbane’s most vulnerable people.” Only the Coalition has a plan to fix Labor’s cost of living crisis and get Australia back on track. 14 April 2025 MORNINGSIDE, QLD

Australia’s Emissions Flatline Under Albanese Labor Government as Key Sectors Worsen

The latest Quarterly Update of Australia’s National Greenhouse Gas Inventory: March 2025 exposes the Albanese Labor Government’s failure to deliver on its emissions reduction promises, with rising emissions in key sectors leaving Australia dangerously off-track to meet its 2030 target. While overall emissions remained relatively flat, this is not the result of Labor’s policies. The only real progress in emissions cuts came from COVID lockdowns, state schemes and the favourable weather — not from anything the Albanese Government has implemented. Despite Anthony Albanese’s rhetoric, the data tells a very different story: Transport emissions are now higher than pre-COVID levels, up 1% (0.5 Mt CO₂-e) since 2020, driven by surging domestic aviation. Agriculture emissions have surged 7% (5.3 Mt CO₂-e) since 2020, dominated by post drought livestock recovery and fertiliser use. Fugitive emissions from gas venting have surged 24% (2.4 Mt CO₂-e), even as Labor touts safeguards and CCS schemes. The land sector “net sink” has weakened sharply since 2022 as La Niña ended, rainfall declined, and bush fires increased — exposing the fragility of Labor’s reliance on offsets. Half of Australia’s 2030 carbon budget is already spent, yet Labor has no credible plan to tackle the harder task ahead. These figures make it clear: Labor is failing to deliver durable outcomes. Agriculture and transport — two of the hardest sectors for families and exporters — are moving backwards. Gas venting is surging. And the land sector, heavily relied upon by Labor to meet targets, remains vulnerable to rainfall and fire seasons. The update also confirms that reductions in the electricity sector are being driven by projects approved years earlier, many under the Coalition, rather than by new policies from Labor. To meet its 2030 emissions target, Australia needs to reduce emissions by roughly 15 Mt CO2‑e per year from now until 2030. By comparison, emissions fell by only 3 Mt CO2‑e in 2023–24, and the long-term average reduction since 2006 has been around 12 Mt CO2‑e per year. As the Climate Change Authority highlighted in its 2024 Annual Progress Report, maintaining the current pace of reductions will leave Australia well short of its 2030 goal (p. 29). Without a significant acceleration in emissions cuts, the target is unlikely to be achieved. Australians deserve an energy policy that lowers bills, ensures reliable power, and reduces emissions. This latest update shows the Albanese Labor Government has delivered none of the above. Quotes attributable to Senator Dean Smith “Labor is coasting on the legacy of Coalition projects. Their emissions reduction policy is failing, and families are left paying the price.” “Halfway to 2030, Labor has already burned through half the carbon budget with no plan for how to deliver the rest.” “Labor’s climate plan isn’t a plan at all — it’s higher prices, rising pollution, and a reliance on good rainfall and luck with the fire season.” “Australians deserve a credible energy and climate policy that cuts emissions while keeping the lights on and bills down — not empty promises and excuses.” “Labor promised transformation, but instead emissions are flatlining, while transport emissions are now higher than before COVID, agriculture is surging, and gas venting is up 24% — that’s Labor’s record.” Quotes from the Quarterly Update “Australia is 48% of the way through the Paris Agreement target period and has generated emissions equivalent to 48% of the emissions budget to 2030.” (p4) “Overall transport emissions in the year to March 2025 are 0.1% above the levels observed in the year to December 2019, immediately before the COVID pandemic. This overall increase is largely the result of increases in annual emissions from domestic aviation and road transport diesel consumption, which are 16.8% and 7.6% higher in the year to March 2025 than they were pre-COVID in the year to December 2019 respectively.” (p19) “There have been significant declines in electricity sector emissions since 2020… This decline in emissions has occurred while demand for electricity across residential and industrial sectors has increased. Residential demand is increasingly being met by rooftop solar supported by the Small-scale Renewable Energy Scheme, putting downward pressure on demand from the grid. Similarly, industrial demand is being met with a growing proportion of renewable generation, supported by state and federal policies such as the expanded Capacity Investment Scheme.” (p30)

The Hon Michael Sukkar MP & Senator Dean Smith – Joint Media Release – COALITION COMMITS $50 MILLION TO FOOD CHARITY SERVICES

SHADOW MINISTER FOR SOCIAL SERVICES, NDIS, HOUSING AND HOMELESSNESS AND MANAGER OF OPPOSITION BUSINESS – THE HON MICHAEL SUKKAR MP SENATOR DEAN SMITH – SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY & LIBERAL SENATOR FOR WESTERN AUSTRALIA JOINT MEDIA RELEASE COALITION COMMITS $50 MILLION TO FOOD CHARITY SERVICES 28 March 2025 A Dutton Coalition Government will provide $50 million to help food charities, like Foodbank, SecondBite and OzHarvest, expand their services, including school breakfast programs, to support Australians struggling under Labor’s cost-of-living crisis. This funding comprises: $20 million in the first year (2025-26), to provide immediate support to Australians in need, with $10 million for the three national food relief charities and $10 million for other charities providing food support; and $10 million each year from 2026 to 2029, to further support the three national food relief charities. Under the Albanese Labor Government, Australians are experiencing the worst collapse in living standards in history. Real household disposable income has plummeted by 8 per cent, and the price of everything has soared by more than 10 per cent since the last election. To put Labor’s cost-of-living crisis into perspective, nearly 2 million Australian households of all age groups and demographics have experienced severe food insecurity in the past 12 months; 30 per cent of households with mortgages and 46 per cent of renting households are being forced to skip meals just to keep a roof over their heads; and even working Australians can’t afford the basics, with more than half of the households seeking food relief having at least one person in paid employment. As a result, Australia’s food relief sector has been calling on the Labor Government to provide an urgent and dramatic increase in funding to respond to the unprecedented levels of demand for food relief, including from Australians who have never previously relied on that support. However, the calls for funding have fallen on the Government’s deaf ears. Unlike Labor, we have listened to the sector and know Australians need increased support now. Only a Coalition has a plan to fix Labor’s cost-of-living crisis and get Australia back on track. ENDS

Senator Dean Smith – Shadow Assistant Minister for Competition, Charities and Treasury – Media Release – National Spike in Borrowers Who Cannot Make Mortgage Repayments Under Labor

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY LIBERAL SENATOR FOR WESTERN AUSTRALIA MEDIA RELEASE 20 March 2025 NATIONAL SPIKE IN BORROWERS WHO CANNOT MAKE MORTGAGE REPAYMENTS UNDER LABOR The number of Australian mortgage holders running at least three months late on their repayments has increased in every state and the ACT, according to newly released data from the Reserve Bank of Australia. These figures update data supplied to Senator Dean Smith by the RBA in 2023. They confirm the growing mortgage hardship over that time, revealing the percentage of borrowers in 90-day arrears nearly doubled in some states. Victoria was the worst affected nationally, with 0.66 percent of mortgage holders in 90-day arrears – up significantly on the 0.37 percent recorded in the earlier data. New South Wales was the next highest, hitting 0.55 percent compared to 0.31 percent. Queensland jumped from 0.29 percent to 0.42 percent of borrowers, South Australia from 0.33 percent to 0.47 percent, Western Australia from 0.43 percent to 0.51 percent, and the ACT from 0.21 percent to 0.34 percent. Tasmania’s numbers were notable, increasing 0.18 percent between data sets to 0.47 percent. The RBA data also covers the percentage of borrowers assessed as having a high mortgage burden. These households are defined as spending more than 30 percent of their household income on mortgage repayments and being in the lowest income quartile. Victoria and Tasmania led the way, with more than 10 percent of mortgage holders impacted – 11.4 percent in Victoria and 10.1 percent in Tasmania. Except for the ACT, where numbers increased from 8.8 percent to 9 percent, all states experienced a slight decrease in the number of borrowers carrying a high mortgage burden between the data provided in 2023 and 2025. This mortgage stress has been occurring as more than half of mortgage holders rolled from fixed rate to more expensive variable rate loans. According to the RBA, between 58 percent (Queensland, WA and South Australia) and 64 percent (Victoria) of fixed term loans were due to expire during 2024. Assuming a 25-year loan and interest rate of approximately 6.4 percent, the Bank estimates the switch to a variable rate loan translates to an extra $940 in monthly repayments on a $450,000 loan. An $800,000 loan would cost an extra $1,740 per month and a $1,000,000 loan an extra $2,170. This latest data proves something thousands of Australian mortgage holders know from personal experience – mortgage repayments are higher under Labor, and, combined with cost of living pressures, an increasing number of homeowners can no longer keep up with them. Comments attributable to Senator Dean Smith: “As the Federal election rapidly approaches, this new RBA data confirms the widespread, growing scale of mortgage stress under Labor.” “More and more borrowers in every state and the ACT are falling behind on their mortgage repayments and it’s a direct consequence of the Albanese Government’s cost of living crisis and cumulative interest rate rises.” “The recent interest rate cut by the RBA was welcome, but it will take many more before mortgage holders pushed to the edge by Labor’s dozen rate rises experience any meaningful relief.” “Life is harder under Anthony Albanese and Labor, and only a Dutton-led Coalition Government has a plan to get the Australian economy – and mortgage holders – back on track. ENDS

Senator Dean Smith – Shadow Assistant Minister for Competition, Charities and Treasury – Media Release – New RBA Data Confirms Jump in WA Mortgage Pain Under Labor

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY LIBERAL SENATOR FOR WESTERN AUSTRALIA MEDIA RELEASE NEW RBA DATA CONFIRMS JUMP IN WA MORTGAGE PAIN UNDER LABOR The toll of the Albanese Government’s dozen interest rate rises on Western Australian mortgage holders is rising. New Reserve Bank of Australia data sourced by Senator Dean Smith reveals a significant increase in the WA homeowners who are three months or more behind on their mortgage repayments. 0.51 percent of borrowers in the West are now in 90-day arrears according to the RBA – up from 0.43 percent in data the Bank provided to Senator Smith in 2023. It is third highest rate of 90-day mortgage arrears in Australia, with only New South Wales and Victoria recording worse results of 0.55 percent and 0.66 percent. The RBA data also highlights that 9.8 percent of WA borrowers are classified by the RBA as having a high mortgage burden. This is also the third largest number in Australia. The high proportion of fixed rate loans that have rolled over to higher variable rates has not helped. 58 percent of fixed rate loans in the state were due to expire in 2024, according to the RBA. The average mortgage repayment increases for affected homeowners puts this into context. The RBA calculates that – assuming a 25-year loan and an interest rate of approximately 6.4 percent – those with a $450,000 loan switching to variable interest would have to make monthly repayments of $3,000, an extra $940 compared to their fixed rate repayments. On the same basis, an $800,000 loan would carry monthly repayments of $5,340, an extra $1,740, while a $1,000,000 loan would carry a monthly repayment of $6,670, an extra $2,170. This data makes clear that mortgage stress in WA is both very real and worse – not better – after two additional years of economic mismanagement by the Albanese Government. The growing number of borrowers unable to make their mortgage repayments is a direct result of the cumulative interest rate rises and ongoing cost-of-living pressures Labor has inflicted on Western Australians. Comments attributable to Senator Dean Smith: “On the eve of the Federal election, this data leaves no doubt that more and more Western Australian mortgage holders have been pushed to the edge under the Albanese Government.” “Not only is the number of WA mortgage holders in 90-day arrears up significantly, but the RBA now classifies nearly 10 percent of borrowers as having a high mortgage burden – all due to Labor’s cumulative interest rate rises and cost-of-living crisis.” “The recent interest rate cut was welcomed by all, but a dozen rises during Labor’s term means many more will be needed to provide genuine relief to those being crippled by mortgage stress.” “Only a Dutton-led Coalition Government has a plan to rein in spending, properly address inflation, and get our economy – and our mortgage holders – back on track.” ENDS

Senator Dean Smith – Shadow Assistant Minister for Competition, Charities and Treasury – Media Release – More than 1,200 WA businesses insolvent as Labor’s cost of doing business crisis bites

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY SENATOR FOR WESTERN AUSTRALIA MEDIA RELEASE MORE THAN 1,200 WA BUSINESSES INSOLVENT AS LABOR’S COST OF DOING BUSINESS CRISIS BITES Nearly three years of elevated interest rates under the Albanese Government has fueled one of the most severe cost of doing business crises Western Australia has experienced – driving a massive rise in the number of businesses collapsing. Latest figures from the Australian Securities and Investments Commission (ASIC) reveal that 1,222 businesses across the state entered insolvency between January and December 2024. This represents a 42 percent increase in WA insolvencies compared to 2023. The data confirms what many local entrepreneurs know only too well – that the rate of insolvencies in Western Australia is accelerating as more and more small businesses struggle to cope with persistent high interest rates and tightening consumer spending. There were 351 insolvencies during the December 2024 quarter, a jump of 142 percent on the 145 insolvencies in the March 2022 quarter. ASIC figures also indicate that businesses in the construction and accommodation/food categories were hit hardest, accounting for 32.4 percent – or nearly one-third – of all company insolvencies in Western Australia last year. Significant Government spending at both Federal and State levels has to an extent masked the true impact of the crisis on small businesses, which remain the main drivers of jobs growth in Australia. As a result of this public spending, more than 80 percent of jobs filled in the past two years have been in Australia’s public service, health, and education. The Australian Government has added over 26,000 new permanent public service positions since Labor’s election, contributing to a 23 percent increase in the wages bill since June 2022. This Government spending is not financially sustainable and long term, sustainable jobs will only be created in an environment where the private sector is thriving. WA’s confronting, rapidly increasing business insolvency rate is proof positive that is not the case under Anthony Albanese and Labor. Comments attributable to Senator Dean Smith: “Western Australian businesses have battled difficult operating conditions for years under Labor, but the scale of these insolvencies leaves no doubt the situation has badly deteriorated – we are in a full blown cost of doing business crisis.” “These are not just numbers, either. They are real WA businesses, real WA jobs, and real WA households being impacted.” “Contrary to the promise Anthony Albanese made in Perth in May 2022, things have not been easier under his Government – higher interest rates, skyrocketing overheads, weak consumer confidence and overregulation are what Labor has delivered businesses in Western Australia” “Those businesses realise, and the data confirms, that the economy is stagnating while Labor throws more and more money into growing the bureaucracy instead of the private sector.” “That will not be the case under a Dutton-led Coalition Government, with our plan to back small business, cut Government waste and get Australia back on track.” ENDS

Senator Dean Smith – Shadow Assistant Minister for Competition, Charities and Treasury – Media Release – Charity Leaders Unleash on Labor’s Failure to Deliver in New Survey

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY SENATOR FOR WESTERN AUSTRALIA MEDIA RELEASE 24 February 2025 CHARITY LEADERS UNLEASH ON LABOR’S FAILURE TO DELIVER IN NEW SURVEY The charity and not for profit sector has made its most damning assessment of the Albanese Government yet – venting its frustrations at the lack of support and policy progress under Labor at a time when it is most needed. New charity leaders’ survey A report released today slams Labor’s inaction since coming to power and notes how it is jeopardising the charitable organisations supporting millions of Australians through the Government’s own cost of living crisis. It notes that “Charities and NFP community groups have been on the back burner”, that they are “not a priority for the Government” and asks when the Government is “going to start doing things”. State of the Sector Report, Charity Policy Delivery: The Government’s Scorecard surveyed the 56 leaders and CEOs of major charities and not for profits who are part of the Community Council of Australia Charity Expert Panel. Conducted by Piazza Research, the report reveals at least two thirds of charity leaders are critical of the Albanese Government’s failure to act and inability to progress key reforms aimed at improving the operational capacity of the sector. Many of these reforms were Labor election promises in 2022, and the report observes that “actions speak louder than words, and commitments need to be followed through” – also noting there have been “lots of consultations and review processes”, but that these are “yet to see much action”. The leading concern, voiced by nearly 85 percent of survey respondents, was Labor’s failure to cut the red tape burdening the sector. Other issues highlighted include insufficient action to assist charities and not for profits in adapting to changing technology and updated models of funding that allow long-term planning. Labor’s record of failure The report mirrors long-standing criticisms from the sector – and the Coalition – that the opportunity to make vital progress to grow and future-proof charities and not for profits has been lost under Labor and Assistant Minister Andrew Leigh. Its July 2024 Future Foundations for Giving Inquiry Report, whose stated aim was to “increase opportunities for philanthropic giving”, contained limited pathways to practically achieve this and left the national goal of doubling philanthropic giving by 2030 in doubt. Labor’s Not-For-Profit Sector Blueprint, described as a “roadmap for Government reform and sector-led initiatives to boost the sector’s capacity to support and connect Australian Communities”, was announced in October 2022, but only released in December 2024 after the sector had struggled through one of the most challenging periods in its history. Where Labor has attempted to act, its approach has been flawed and counterproductive. Its rollout of new not for profit tax reporting requirements, for example, has seen hundreds of community organisations across Australia overwhelmed by new regulatory requirements because the Albanese Government provided conflicting advice and insufficient transitionary arrangements and support. Labor also pursued changes under Fair Work legislation regarding fixed-term contracts that was incompatible with the way most charities receive funding and hire their staff – only finally agreeing to consult and grant the sector an exemption when Senator Smith, on behalf of the Coalition, achieved the support of the Senate to make public documents revealing Labor’s mishandling of the situation. Comments attributable to Senator Dean Smith “This report is clear confirmation of the frustration and disappointment charity and not for profit leaders and their organisations are feeling with the Albanese Government after three years of inaction.” “Their anger and concern is justified – these have been the most challenging years in the sector’s history, with Australians experiencing major hardship and requiring record support in Labor’s cost of living crisis.” “Instead of rewarding and supporting it, Labor has stalled, watered down, or delivered late the key reforms our charities and not for profits need to operate in an increasingly challenging environment characterised by skyrocketing operating costs, volunteering challenges and cybersecurity issues to name a few.” “And when the Albanese Government does act, it acts contrary to the sector’s best interests, often failing to understand their concerns and making an already bad situation worse.” ENDS

Senator Dean Smith – Shadow Assistant Minister for Competition, Charities and Treasury – Media Release – Mortgage repayment survey pinpoints the hardest hit locations across Australia

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY SENATOR FOR WESTERN AUSTRALIA MEDIA RELEASE 18 February 2025 MORTGAGE REPAYMENT SURVEY PINPOINTS THE HARDEST HIT LOCATIONS ACROSS AUSTRALIA A new nationwide analysis reveals the Australian suburbs worst impacted by rising mortgage repayments under the Albanese Government – and confirms most are in Labor-held seats. Undertaken by the Federal Parliamentary Library at the request of Senator Dean Smith, the survey covers the 50 suburbs in each capital city that experienced the most drastic repayment increases between March 2022 and September 2024. Perth topped the list, with its 50 worst affected suburbs recording an average 154.3 percent rise over the period. It was followed by Adelaide at 140.6 percent, Brisbane at 133.9 percent, Sydney at 95.2 and Melbourne at 68.1 percent. Salisbury in Adelaide recorded the highest increase anywhere in Australia at 211.7 percent, with repayments there soaring from $679 to $2,117. In Perth’s Bayswater, households saw repayments leap from $762 to $2,355 per month – an extra $1,593. Armadale was second worst affected, jumping from $1,024 to $2,972 per month. Repayments in Brisbane’s Eagleby increased 177.5 percent, equal to $1,760 more every month, while Woodridge was just behind at 172.5, or $1,407. In Sydney, Little Bay lead the way with a 153.8 percent rise, adding $4,586 to monthly bills, followed by Wilton at 146.9 percent and Punchbowl at 132.8 percent. Maidstone in Melbourne saw a 100.72 percent jump, translating to an extra $1,746 per month, while repayments in Box Hill increased $1,625 after a 99.1 percent jump. These findings highlight the direct consequences of the Albanese Government’s economic mismanagement and skewed priorities on Australian mortgage holders. Notably, worst impacted are suburbs in electorates represented by Labor in the Federal Parliament – including Spence, Perth, Burt, Rankin, Kingsford Smith, Watson, Fraser and Chisholm. Instead for being rewarded for their vote, these constituents are being pushed to the brink by a Government they elected to be represent their interests, and which promised it would make life easier. Comments attributable to Senator Dean Smith: “This data leaves no doubt of how tough Australian households, regardless of what city they are in, are doing it under Anthony Albanese and Labor.” “A dozen interest rate rises, fuelled by Labor’s spending and economic mismanagement, are pushing Australian mortgage-holders to the edge – and, while rate cuts will be very welcome, it will take far more than one or two to repair the damage Labor has inflicted. “What is most striking about this data is that it confirms the hardest-hit suburbs are overwhelmingly in Labor-held electorates, whose voters will soon have an opportunity to hold the Albanese Government to account.” “The Coalition understands Australians should not be forced to choose between making mortgage repayments and putting food on the table, which is why we have a plan to get our economy back on track and address the housing crisis under a Dutton-led Government.” ENDS

LABOR’S INFLATION CRISIS FORCING HUNDREDS OF THOUSANDS OF OLDER AUSTRALIANS BACK TO WORK

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR FOREIGN AFFAIRS AND TRADE SHADOW ASSISTANT MINISTER FOR ENERGY AND EMISSIONS REDUCTION LIBERAL SENATOR FOR WESTERN AUSTRALIA 6 February 2025 LABOR’S INFLATION CRISIS FORCING HUNDREDS OF THOUSANDS OF OLDER AUSTRALIANS BACK TO WORK The consequences of the Albanese Government’s rampant spending were laid bare in this week’s interest rate rise to 3.85 percent, the 13th cash rate hike under Labor. But new data highlights another very human cost of Labor’s economic mismanagement, revealing that a record number of older Australians are continuing – or returning – to work to cope with financial pressures. There were 760,100* Australians aged 65 and over in the workforce in October 2025. This is the highest number since the relevant data set began in 1995 and confirms that the number of older working Australians has spiked by nearly 100,000 in two years, up from 682,300*. Since Labor came to power in May 2022, the number has jumped by 124,200* workers – or just under 20 percent. The data from the Australian Bureau of Statistics and collated by the Parliamentary Library for Senator Dean Smith, also details the number of working Australians aged 65 and over in the most populous states. There were 243,200* in New South Wales in October 2025, another record high, representing a 22 percent increase compared to May 2022. Victoria followed close behind with 201,400* older employees, up 27 percent from 159,200* when the Albanese Government was elected. In Queensland, numbers totalled 143,600* workers, a 15 percent rise from May 2022. It proves that Australians are delaying retirement, or coming back to work, at unprecedented rates as the cost of living crisis rages on and fixed incomes are eroded. While working into your late 60s and 70s was once a personal choice for many, it is increasingly becoming an economic necessity on the Albanese Government’s watch. This crisis, as the Reserve Bank of Australia has made very clear, is being driven by Labor’s failure to curb spending. National inflation rose to 3.8 percent in the year to December, up from 3.4 percent the month before, pushing up household costs across power, rent, groceries and mortgages. Cost-of-living stress is now the single biggest concern for Australians planning for retirement, with data from Equip Super showing workers are pushing back retirement by up to six years. At the same time, the so-called “bank of mum and dad” is placing growing pressure on older Australians, with many parents drawing on home equity or delaying retirement to help their children enter an increasingly unaffordable housing market. The Federal Government’s own Intergenerational Report has warned that rising housing costs and mortgage debt among retirees will place increasing strain on the age pension and broader Government finances. Quotes attributable to Senator Dean Smith: “These are the numbers everybody needs to see – hundreds of thousands of older Australians delaying retirement because it is the only way they can survive financially.” “It is not about choice – it’s about financial stress caused by Labor’s failure to manage inflation and the economy.” “Rising inflation, soaring housing costs and mounting interest rates under the Albanese Government are destroying the retirement plans of a record number of Australians, robbing them of the dignity and security they deserve at this time in their lives.”   *Based on annualised average.

INFLATION AND HOUSING FAILURES PUSH OLDER AUSTRALIANS BACK TO WORK

SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER FOR FOREIGN AFFAIRS AND TRADE SHADOW ASSISTANT MINISTER FOR ENERGY AND EMISSIONS REDUCTION LIBERAL SENATOR FOR WESTERN AUSTRALIA 3 February 2025 INFLATION AND HOUSING FAILURES PUSH OLDER AUSTRALIANS BACK TO WORK New national data reveals a deepening cost-of-living crisis across Australia, with record numbers of older Australians being forced back into the workforce as inflation, housing costs and interest rates continue to bite under the Albanese Labor Government. Across the country, Australians are delaying retirement at unprecedented rates, with workforce participation among people aged 65 to 74 climbing steadily as fixed incomes are eroded by rising prices and mounting housing costs. Once, working into your late 60s and 70s was a personal choice, but under Labor it is increasingly a financial necessity. ABS data shows retirement rates have collapsed over the past two decades. Twenty years ago, nearly 70 per cent of women and almost half of men aged 60–64 were fully retired. Today, those figures have fallen to just 41 per cent and 27 per cent respectively. Census data also shows the number of Australians aged 55 to 64 who own their homes outright has almost halved over the past 20 years, leaving many approaching retirement with large mortgage debts and little financial flexibility. Research from Digital Finance Analytics reveals the scale of the problem with three-quarters of retirees with a mortgage owe more than they have in superannuation, while the number of older Australians who planned to retire but changed their minds doubled in the year to September. The average mortgage balance among this group is around $190,000, with many owing far more — in some cases up to $500,000 — forcing them to stay in the workforce longer than planned. This crisis is being driven by Labor’s failure to contain inflation and manage the economy. National inflation rose to 3.8 per cent in the year to December, up from 3.4 per cent the month before, pushing up household costs across power, rent, groceries and mortgages. Experts warn these pressures are widespread and unavoidable, with the average household expected to be more than $2,100 worse off this year alone due to rising prices. Cost-of-living stress is now the single biggest concern for Australians planning for retirement, with data from Equip Super showing workers are delaying retirement by up to six years, while more than one in five Australians have been forced to reduce their super contributions simply to make ends meet. At the same time, the so-called “bank of mum and dad” is placing growing pressure on older Australians, with many parents drawing on home equity or delaying retirement to help their children enter an increasingly unaffordable housing market. The Federal Government’s own Intergenerational Report has warned that rising housing costs and mortgage debt among retirees will place increasing strain on the age pension and broader government finances.   Quotes attributable to Senator Dean Smith “This surge in older Australians delaying retirement is not about choice — it’s about financial stress caused by Labor’s failure to manage inflation and the economy.” “When three-quarters of retirees with a mortgage owe more than they have in super, that is a flashing warning light for the nation.” “Labor’s cost-of-living crisis is forcing Australians to work longer, retire later and take on risks they never planned for.” “Rising inflation, soaring housing costs and mounting interest rates have shredded the retirement plans of thousands of Australians.” “Parents are staying in the workforce longer to help their kids buy a home, while still carrying their own mortgage debt — this is the real cost of Labor’s housing failure.” “Australians deserve dignity and security in retirement, not an economy that traps them in the workforce just to keep up with rising bills.”