Dr CHALMERS (Rankin—Treasurer) (14:18): The good people of Moore elected an absolute champion as their local member in this place. I appreciate his question. Inflation last week and rates this week were important reminders of the challenges in our economy, despite all of the progress that has been made together. Inflation at the end of the year didn't come in much higher than we expected, but it came in higher than we would like. Some of that inflation is temporary; some of it is more persistent. It's nowhere near the peaks that we saw in 2022 under those opposite, but all of it adds to the pressure that people feel around the country, and the Reserve Bank's decision will add to that pressure as well. We understand that inflation is too high in our economy. We acknowledge that; we get that, and that's why we're acting on it. We are acting on it with cost-of-living help that those opposite oppose. We are acting on it with tax cuts that those opposite oppose and want to repeal. We are acting on it with budget repair that those opposite were completely incapable of. Inflation is one of three major challenges, but it is the most pressing challenge in our economy in the near term. We've also got a longer standing challenge with productivity, and both of those are set against the backdrop of global economic uncertainty. But we need to remember, as we confront all of this together, we also have big advantages. As the Reserve Bank governor said on Tuesday: We are actually in a really good position. This goes, I think, to those opposite— Opposition members interjecting— Dr CHALMERS: Well, they're now sledging the Reserve Bank governor, Mr Speaker. They're now sledging the Reserve Bank governor. So out of control is their partisanship that they're now going after the independent Reserve Bank governor, just like the opposition leader went after the Treasury secretary earlier in the week. Now those opposite want to talk to the Australian economy— Opposition members interjecting— The SPEAKER: Order! I'm just going to ask the Treasurer to pause. I genuinely can't hear. There's too much noise. The member for Goldstein is not going to interject any more, otherwise we won't be having the MPI today. I mean it. So no more interjections from the member for Goldstein, otherwise the opposition will lose the MPI and there'll be consequences for actions. The Leader of the Nationals and the Deputy Leader of the Nationals are getting a good go at the moment, but that won't continue if they continue to interject. The House is going to settle. I'm just going to ask the Treasurer to return to the question. Dr CHALMERS: When those opposite make comparisons with the major advanced economies, they never make the full comparison. We've got stronger economic growth and lower unemployment than most of the major advanced economies. We've got stronger jobs growth and less debt than all of the major advanced economies. Every one of them has had a negative quarter of growth, and we haven't had a negative quarter of economic growth. We're also strengthening business investment. We've got near record high labour force participation. We've got a lot going for us in our economy. Our objective is to maximise our strengths and address our challenges in the economy in our usual considered and methodical way. Mr Conaghan interjecting— The SPEAKER: The member for Cowper is now warned. Dr CHALMERS: We know that there is more work to do across inflation, productivity and making our economy more resilient in the face of global economic uncertainty. That will be the focus in May, and we will not be distracted by the three-ring circus over there.