Federal Budget: Energy, home ownership and cost-of-living focus of Peter Dutton’s reply

Opposition leader Peter Dutton has slammed the federal budget in his reply speech, describing it as a “missed opportunity” to help Aussies doing it tough.

Housing affordability, energy and cost-of-living relief are top priorities for Opposition leader Peter Dutton, who accused Labor of “breaking faith” with Australian families who will be $2000 worse off by Christmas.

In his first budget reply speech, Mr Dutton signalled plans to have an “intelligent conversation” on the role nuclear could play in Australia’s energy mix as he slammed the federal government for breaking its promise to deliver a $275 power saving.

Mr Dutton described Labor’s budget on Tuesday as a “missed opportunity” to help Australians in their time of need as it did not address economic challenges or “inspire confidence”.

“Cost-of-living, power prices, taxes, interest rates, unemployment, and the deficit are going up, or will be going up,” he said.

“Real wages are forecast to go down.”

Mr Dutton recommitted the Coalition to introducing a Super Home Buyer Scheme if elected, and announced he would expand it to allow older women who separate later in life to use their superannuation to buy a home.

“(These are) women with very few housing options and are increasingly left homeless,” he said.

Opposition leader Peter Dutton has accused Labor of “breaking faith” with Australian families in his first budget reply. Picture: NCA NewsWire / Gary Ramage

The original scheme was unveiled late in the 2022 federal election campaign, and would have allowed first-home buyers to access 40 per cent of their super up to $50,000 for a house deposit.

Mr Dutton said the role of an opposition was not to “oppose for the sake of it” and he was happy to support “good” policies, commending Labor’s extension of childcare subsidies, cheaper medicines, housing for veterans, funding for flood recovery and initiatives to combat domestic violence.

But he said the Budget had “failed” on housing, tax relief, filling job shortages, industrial relations, regional infrastructure and energy.

He said the government’s promise to build a million homes in five years for $10bn “isn’t realistic”.

Mr Dutton said investing in renewable energy and reducing emissions was “crucial,” but accused the government of failing to ensure enough “firming” capacity in the system during the transition to new technologies.

He blamed the government for the forecast electricity price rise of 56 per cent and gas of more than 44 per cent over the next two years, and flagged nuclear as an option to lower emissions and sure up power supply.

“The imperative to create affordable, reliable, and emissions-free energy is why the Coalition is seeking an intelligent conversation on the role these new-age nuclear technologies could play in the energy mix,” he said.

Mr Dutton said the accumulative effect of rising cost of living meant by Christmas, “a typical family” would be $2000 dollars worse off.

“The Prime Minister has broken faith with (Australians),” he said.

Mr Dutton also announced he would restore $50 million cut by the federal government for the Safer Communities Funding, which provided grants for security cameras and other equipment to protect multicultural communities.

He strongly backed in the stage three tax cuts, legislated to take effect in 2024-25, accusing Labor of “laying the groundwork” to break its promise to deliver the full package.