00:01Well, I think the point that the Prime Minister would make and the Prime Minister that I've
00:05made repeatedly is from budget update to budget update, we take into consideration all the
00:11pressures on people and all the pressures and challenges in our economy and opportunities
00:15in our economy and come up with the most responsible combination of policies that we can.
00:20I don't think anybody's anticipating that the mid-year update will be some kind of major
00:25mini-budget but it would be entirely consistent with the way that we've come at all of our
00:31budgets and budget updates to consider and weigh up the fiscal pressures, the pressures
00:36on the budget with the pressures on people right around this country in the context of
00:41the inflation which is hanging around longer than anybody would like.
00:45We understand that a lot of Australians are under serious and in some cases sustained pressure
00:52when it comes to the cost of living. That's why, as I said, we don't just acknowledge
00:56that, we act on that. The tax cuts are an important part of our response to that, bulk
01:01billing, wages and the rest. It's all about understanding that a lot of Australians are
01:08under serious pressure. The decision taken by the Reserve Bank yesterday makes that pressure
01:13worse and harder for a lot of people, millions of people with a mortgage. That's why we accept
01:18our part, our responsibility for our part of the fight against inflation, responsibly managing
01:24the budget, rolling out cost of living relief where we can afford to do that and also dealing
01:28with some of these longer term challenges in our economy that you and I have talked about
01:31that today and on a number of other occasions.
