Senator WATT (Queensland—Minister for Agriculture, Fisheries and Forestry and Minister for Emergency Management) (14:27): Thank you, Senator Sheldon, for your question. We know that there are people doing it tough right now across Australia, and that's why helping Australians with cost-of-living pressures is the Albanese government's No. 1 priority. We are driving down inflation to take pressure off household budgets. We want people to earn more and keep more of what they earn, but we know that there is still more to be done. Labor's economic plan provides relief where it's needed without adding to inflation. A particular focus of our plan is helping younger Australians. In last year's budget we increased rent assistance, we poured billions of extra dollars into building more homes and young people's wages are now growing above inflation. From 1 July this year, we are delivering tax cuts for every taxpayer, rewarding hard work and putting more money back in Australians' pockets. Under Labor, younger Australians will get a tax cut which they wouldn't have received under the Liberals and Nationals. As part of tonight's budget, the Albanese government has cut the student debt of more than three million Australians, wiping around $3 billion in student debt. We will cap the HECS-HELP indexation rate at the lower of the consumer price index and the wage price index. Not only that but we are backdating these changes to wipe the effects of the spike in the HECS-HELP indexation rate in 2023. Opposition senators interjecting— Senator WATT: I am surprised to hear at least two frontbenchers from the coalition criticising the decision of the Albanese government to wipe $3 billion worth of student debt. We know now who is for more student debt, and that's the people who are interrupting right now. This change from the Albanese government will ensure that indexation will never grow faster than the average wage. Australians with an average HECS-HELP debt of $26,500 will receive a credit of around $1,200. The new Commonwealth prac payment will also be available to eligible domestic students studying nursing, midwifery, teaching and social work at universities and those studying nursing qualifications through eligible vocational education providers. The PRESIDENT: Senator Sheldon, first supplementary?