Senator BIRMINGHAM (South Australia—Leader of the Opposition in the Senate) (14:04): Before the election, the Prime Minister promised cheaper mortgages, but, under Labor, interest rates have increased 12 times, meaning a family with an average mortgage is paying $24,000 more per year. Interest paid on mortgages has nearly tripled under Labor. As Labor has handed down three budgets, economists have said the extra spending is keeping interest rates higher for longer. Senator McGrath interjecting— Senator BIRMINGHAM: Does the Labor government accept any responsibility for interest rates staying higher for longer in Australia, even as they come down in other countries? The PRESIDENT: Before I call Minister Wong, Senator McGrath, withdraw that comment. Senator McGrath: I withdraw. The PRESIDENT: You referred to a senator in a derogatory way. You seem puzzled, but you referred to a senator in a derogatory way. That's why I've asked you to withdraw. Minister Wong.