Senator DEAN SMITH (Western Australia) (15:12): Twenty-four hours after the budget, Labor is waving the white flag. They have surrendered on the fight to combat inflation, they have surrendered on their promises to generate wage growth, they have surrendered on providing cost-of-living relief to Australian families and they have surrendered on low unemployment—because the budget papers show 150,000 job losses over the forward estimates. What audacity, for the finance minister to say at question time that the government keeps all of its promises. The promise to keep inflation under control, the promise to keep employment low, the promise to provide cost-of-living relief—gone or disappearing. Why is it that the Treasurer, Jim Chalmers, can spend much of his commentary before the budget, in his budget speech and following his budget delivery, talking about the need to combat inflation but has not taken one hard decision? He's not taken one hard decision to combat the scourge of inflation that is now bearing down on Australian families. As the weeks and months progress, Australian families are going to have to face the very real economic challenges that no hard decisions have been taken by this government in its first budget—perhaps better characterised as a mini-statement or economic statement—to combat inflation. My colleague, Senator Cadell, from New South Wales— Senator Cadell: A great place! Senator DEAN SMITH: A great place—I'm sure it is, second only to Western Australia. My colleague, in his question, talked about the National Australia Bank Consumer Sentiment Survey. Let me share with you what the consumer sentiment survey says. It says higher consumer stress associated with the cost of living is now at its highest point since 2018. It says that cost-of-living pressures are resulting in consumers changing the way in which they spend. Sixty-one per cent of consumers surveyed are now switching to cheaper brands or shopping around for cheaper products; 54 per cent of those surveyed said they were cancelling or cutting back on food delivery services; and 47 per cent of survey respondents said they were cutting back on entertainment. But there's more. The survey says a growing number have also cancelled or cut back other subscriptions like newspapers, magazines and audiobooks. People are now cutting back streaming services and gym, sports and club memberships. That is where the rubber is hitting the road, and Australian families are now having to change their decisions because they are feeling the real impact of inflation. They know they must prepare for the worst because the government has failed to deliver on any real, meaningful measure that will put downward pressure on inflation. And, if there is a meaningful measure that the government can point to that is putting real downward pressure on inflation, then I invite them to nominate it. We've got Labor senators in the chamber now. I invite them to nominate it in their future contributions. What does this mean for people's hip pocket? The consumer sentiment survey says consumers, on average, estimate—so this is consumers themselves—that they will be paying around $239 in three months time for groceries when they're currently paying $180. The consumer sentiment survey says that for fuel, where they're currently paying $67 a week, that is expected to climb to $102 in three months time. For utilities like gas, electricity and water, consumers estimate they are currently spending around $244 per month, and this is expected to rise by $320. People deserve a better plan from this Labor government.