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How much has your insurance increased? For some, insurance costs have increased by as much as ten times. While many insurance companies operate under Australian brands, they are actually controlled by foreign multinational investment funds like BlackRock, Vanguard, State Street, and Goldman Sachs. These foreign entities influence our government to push climate change propaganda, which they then use as an excuse to drastically increase insurance premiums.

Only One Nation can be trusted to say no to the foreign corporate cartel, ensuring more affordable insurance for Australians.

Transcript

My question is to the Minister representing the Minister for Financial Services, Senator Gallagher. Minister, Australians opening insurance renewals have been falling off their chairs. Brendan O’Malley from the Courier Mail reported in September that a homeowner on Cheviot Street in Brisbane had their insurance bill increase from $3,000 to $32,000 a year—more than 10 times. Queensland’s Suncorp Bank profited $379 million last year, while Suncorp Bank’s insurance division made a whopping $1.2 billion profit, more than triple that of their banking business. Why is your government letting insurance companies rob Queenslanders? 

Senator GALLAGHER: I don’t accept the proposition that Senator Roberts has put as part of his question. But I do accept and understand that insurance affordability is a real issue for Australian households and businesses, and it is something that the government is concerned about. You see in the inflation data that one of the big drivers of inflation is the costs around insurance. There are a number of reasons insurance premiums have increased in the last 12 months—it’s due to a range of factors—but I think Senator McAllister was talking about this earlier in the week. There have been more frequent and more intense hazard events, price inflation is making it more expensive to repair damages, and there is the global distribution of risk by reinsurers, which are having to cover the costs of earthquakes in New Zealand and hurricanes in Florida—that all has an impact on costs here. The government has established an Insurance Affordability and Natural Hazards Risk Reduction Taskforce within PM C to address the impacts of climate change and inflationary pressures that are driving up the cost of insurance. We are looking at what further steps the government can take, working with industry and stakeholders through the taskforce, including some things the insurers always raise this with me: risk mitigation, land use planning and other near-term opportunities to address affordability. 

The PRESIDENT: Senator Roberts, first supplementary? 

That insurance bill that I talked about before went up because Brisbane City Council published new climate scaremongering flood maps. The street never had a problem with flooding yet was included in a new zone marked for a one-in-2,000-year climate change doomsday flood. Minister, why are you letting insurance companies use baseless climate change scaremongering as an excuse to gouge billions at the expense of Queenslanders? 

Senator GALLAGHER: As I said in my previous answer, there are a range of drivers impacting on the cost of insurance. Some of it is around local hazardous events that we’ve had, including floods, and including floods in Brisbane and other areas of Queensland. But there are other reasons, like price inflation and like the reinsurance market, which is being affected by those big, global natural disasters that we’ve been seeing. Some would say—and I would say—these are caused by climate change. I accept that you might not agree with that. In relation to land use planning, that has been subject to a number of inquiries and reviews post the flooding, particularly in areas like Brisbane. Land use planning zoning maps have changed to reflect some of the risk associated with that, and that would feed into premiums not just in Queensland but around the country. 

The PRESIDENT: Senator Roberts, second supplementary? 

Foreign insurance companies own these insurance companies in Australia. Foreign multinational, global wealth funds and corporates like BlackRock, Vanguard, State Street and Goldman Sachs are the largest and control shareholders. Insurance is expensive, and the money goes overseas. Minister, why aren’t you doing anything to stop these insurance companies gouging Queenslanders and sending the profits overseas to multinational, global investors? 

Senator GALLAGHER: Certainly, I’ve already alluded to the fact of global distribution of risk by reinsurers. You talk about them. The global reinsurers affect the price of insurance here, as they do in other countries around the world. But I do not accept that we are not taking any action. We have established this taskforce to look at what further steps we can take to build on existing work, including in areas like risk mitigation and land use planning, as well as other steps to deal with some of these affordability challenges. This is a challenge not just in Queensland but around the country. 

Australia is in a housing crisis. Tent cities are appearing across the country, from parks and bridges to family cars, as rents soar and home ownership becomes unattainable. I’ve seen these conditions firsthand, and it’s heartbreaking. Since 2020, rents have increased by 40%, and the average house price has jumped to nearly 10 times the average income.

A major driver of this crisis is our turbocharged immigration program. While I value the contributions of migrants—being one myself—the current intake is unsustainable. In 2023 alone, over half a million net migrants arrived in Australia. This relentless surge is straining our housing market, health services, infrastructure, and economy.

The math is simple. With 2.45 million temporary visa holders in the country, about one million homes are occupied by these individuals. Yet, we’re building far fewer homes than we need, leaving more Australians homeless and without hope. This unprecedented immigration inflates demand, driving up costs in housing, infrastructure, and everyday essentials. High inflation, soaring interest rates, and gridlocked roads are the direct results of this unsustainable growth. Meanwhile, our health system is overwhelmed, and working families are left to fend for themselves.

The government’s solution? More immigration. It’s time to prioritise Australians—our families, our communities, and our future. Let’s address the housing crisis with meaningful reforms, not empty promises.

Transcript

Australia is in a housing crisis—a housing catastrophe. Tent cities are appearing across the country in the way many people have never seen before. I have been to them. It’s disgraceful. In almost every major city in Queensland I’ve been to, the tents are there. People are sleeping under bridges, in caravans, in parks or in their family car. In August 2020, the national average rent was $437 a week. It’s now $627 a week. That’s an increase of 40 per cent over just a few years. In 1987, the average house price was 2.8 times the average income. Today the house price is 9.7 times the income. That’s nearly 10 times. What hope have our children got? 

A major driver of the housing crisis is Australia’s turbocharged immigration program. Listen to the facts that I’ll come up with soon, and remember that I’m not against migration. I was born in India; I’m half migrant. Australia has a very proud history of migrants building this country, but at the moment we have too many. Let me give you those figures. Australia’s net overseas migration used to average a bit over 80,000 a year. For the 2023 year, our net intake was an astonishing 547,000 new people. That’s more than half a million new people net. In the nine months to September 2024, 394,000 immigrants were added to the population. That puts us well on track for yet another year of more than half a million arrivals into the country. That’s net. That’s after the people who’ve left have been removed from the count. 

Soon after setting Australia’s immigration record last year, Prime Minister Albanese promised he would cut immigration rates. Instead he increased immigration rates and is on track for a second new record in a row. Before 2020 and excluding tourists and short-stay crew, there were around 1.8 million temporary visa holders in the country. Today that number is 2.45 million temporary visa holders in the country, an increase of a third. Using Australia’s average household size of about 2½ people per dwelling, that means temporary visa holders are taking up one million homes. One million homes are unavailable because of this immigration program. 

The Master Builders Association’s October housing review shows that, in the 12 months to 30 June this year, only 158,000 homes were completed. So much for your housing policy. That’s less than we needed to cover new arrivals let alone the homeless and those sharing who want their own place. Every year that this Labor government is in power is yet another year Australia’s housing crisis becomes worse. That is why it’s beyond a crisis; it’s a catastrophe. The ALP and the Greens can promise more houses all they like. Houses aren’t built out of rhetoric. When Australians are sleeping on the street we have to stop the flow of more people into the country. 

Some of these temporary visa holders have to leave. Let’s start with the 400,000 overseas students who have completed or discontinued their study and have failed the 100-point test necessary for permanent residency. These students are in a limbo which is best solved by returning home and developing their own countries with the skills learnt here. Then there are hundreds of thousands of long-stay visa holders who have failed to learn English and failed to get a job but who nonetheless avail themselves of social security. I’ll say that again: they failed to learn English, failed to get a job and are on social security that the Australian taxpayers are paying for. If someone has been in this country for five years and has failed to earn their own way then their visa must be critically reviewed to determine if Australia is the right place for them. It’s time to put the temporary back into temporary visa holder. Our country is bleeding; stop twisting the knife. 

The unprecedented level of immigration isn’t just leading to the housing crisis; 2.45 million extra people add to inflation. Inflation is caused when too much demand is chasing too few goods. It’s really simple, and 2.45 million new arrivals is a lot of new demand. It’s a hell of a lot. The government’s net zero energy policy has driven up power prices—we can all see that— and reduced the capacity of agriculture and manufacturing to meet this demand, leading to demand inflation. It’s a double whammy on inflation. The Reserve Bank has refused to lower interest rates because, as they have publicly stated, this unprecedented rate of immigration is creating so much excess demand, and they have said that reducing interest rates now would cause inflation to worsen. House prices are at highs. Now we’ve got interest rates high. This is a huge catastrophe. 

Why is the government doing this? As Senator Hanson said, we’ve been in a per capita recession now for six quarters. We should be in a recession, according to the performance of our economy. The only reason we’re not in a recession is that they’re flooding the joint with migrants to bump up the gross domestic product. You see, a recession is defined as two quarters of negative gross domestic product. So the only thing saving the recession tag from being hung around Prime Minister Albanese’s neck and Treasurer Jim Chalmers’s neck is the record immigration coming in to take us over zero so we’re just barely hanging in there. They don’t want to be tagged, the Prime Minister and the Treasurer, who are in office, when the recession hits. Instead they will let hundreds of thousands of people go without what they need, facing inflation and tens of thousands of people without a home. 

Immigration is also affecting our health response. Ambulance ramping is at an all-time high in most states, including in my state of Queensland. It takes time to train paramedics, expand emergency departments and buy new ambulances. The pace of the government’s increase in new arrivals has placed demand on our health system and it simply can’t keep up. Lives are at stake, people are dying, and Labor does not care. It doesn’t care about working families. It doesn’t care about mums and dads working then coming home at night to their family car in a park to see if their kids are still there. That is what this government is doing. 

One of the largest budget costs is more infrastructure, especially on roads and transport. These projects are collectively costing hundreds of billions of dollars. The huge demand for infrastructure materials and qualified people is driving up the cost of infrastructure, adding to inflation. Many of these projects wouldn’t be necessary if we didn’t have an extra 2.45 million people in the country. The people coming to work from the Gold Coast to Brisbane, coming to work from the Sunshine Coast, even Caboolture, Burpengary, Morayfield, every day to work in the city of Brisbane are tied up in a car park or are in stationary traffic for hours—their lives just slipping away. 

We have people sleeping under bridges. As I said a minute ago, we have a mother and father returning after work to see if the children are still in the car in the park in which they live, or a showground or maybe a tent under a bridge. Australia has the world’s richest reserves of minerals, bar none, and we have people sleeping in tents because the Labor government does not care. 

It’s a vicious cycle where the government claims that we can fix the immigration problem with more immigration and that we can fix the housing catastrophe by adding bureaucrats and more immigration—fix housing, the catastrophe, with more immigration.  

Australians deserve the truth about our economic reality, not sugar-coated statistics. While the official CPI reports 3.8% inflation, the actual cost of living for most working Australians is a staggering 6.2%

We need policies to end the inflation burden created by both major parties. Australia has everything we need right here to be the richest country in the world.  It simply requires the guts to make common-sense decisions – and only One Nation has that guts!

Transcript

 If you think you’re going backwards, you are, and faster than you think. Last Monday, we had an inquiry, as a result of a motion of mine, to understand the CPI figure from the Australian Bureau of Statistics. That’s what we wanted to find out: what the Australian Bureau of Statistics does. My inquiry revealed that, as everyone knows, the CPI is 3.8 per cent, but selected living-cost indices that the Australian Bureau of Statistics produces and publishes show that most employees—80 per cent of Australians—face a cost-of-living increase in their spending of 6.2 per cent.  

I’ve got no criticism of the ABS. They do what they’re told. Chart 1 in their submission shows that in 2022, soon after the coalition left, the CPI was eight per cent, and food and beverages went up by nine per cent. That’s the legacy that the coalition left. The CPI price change for dairy and related products over the last four years has been 27 per cent; food products, 23 per cent; bread and cereal products, 23 per cent. This is the reality: both the Labor Party and the Liberal-Nationals are contributing to inflation. The prices of groceries, insurance, housing, rents and energy are all artificial and only One Nation has the policies to be able to solve them because we don’t do what the uniparty does.  

The Consumer Price Index shows inflation at just 3.8%, but how accurate is that figure? Every time I shop, it feels much higher.  

Recently, I was successful in getting a Senate Inquiry into how the Australian Bureau of Statistics (ABS) maintain the inflation index and the answers were interesting—inflation is worse than the official figure suggests.

The ABS actually produce several different measures of prices changes. The media often cites one of them – the CPI, which serves economists, bankers and the treasury, who use it to see how the economy is going as a whole, but it’s not an accurate measure of price changes that affects consumers.  

To address this, the ABS produce the Living Cost Index (LCI), which looks at how much the cost-of-living has changed for different groups. The largest of these groups is for employees, which covers about 70% of Australians and reveals that inflation is actually 6.2%, significantly higher than the CPI figure of 3.8%. This difference largely stems from how house price increases are included in the index.

So, it’s clear: people are struggling more than the CPI suggests. If you feel like you’re working harder and getting nowhere, it’s because you are.  

One Nation is committed to reducing government spending, reducing inflation and making your pay stretch further.

Transcript

I rise to take note of the Economic References Committee report into the Australian Bureau of Statistics production of inflation statistics. This inquiry was called on a Senate motion that One Nation introduced. I thank the committee for their time and I thank the Australian Bureau of Statistics for their honest, direct and professional answers. In an answer to my question in Senate estimates, the Reserve Bank governor advised that it uses many other indicators to get a clearer understanding of the cost of living affecting everyday Australians, not just the CPI. This was the comment that led to last week’s inquiry. Many people assume the CPI is an accurate picture of the cost of living for everyday Australians. What we learned from the ABS, the Australian Bureau of Statistics, is the consumer price index is a macro economic indicator useful to the government, Reserve Bank and industry to show how much prices have changed. That’s not the same as asking how much cost-of-living spending has increased for everyday Australians. That cost-of-living data is trapped using other indexes called selected living cost indexes. These are produced for subsets within the economy based on source of income. The largest group is employees, comprising 15 million current wage and salary earners. This is more than 70 per cent of the Australian adult population. This index shows the rate of inflation affecting the largest cohort of the adult population in Australia is actually 6.2 per cent. That feels much more accurate than the official CPI rate of 3.8 per cent. Even at 6.2 per cent, the figure is not entirely representative. The living cost index for most Australians does not include the insane increases in house prices, as Senator Rennick and I pointed out in questions. 

The ABS traps the increase only in building costs, not the increase in land cost. The average home price in Queensland in 2020 was $524,000. In 2024, it’s now $815,000. Most of that inflation is in the land price. Unless home price inflation is included in the living cost index then Australians are quite honestly being misled—badly misled. The ABS is not misleading; it’s producing the statistics the government asked it to produce. 

So I wonder who decided to use the CPI rate as the official picture of inflation in Australia, because it’s wrong. Why don’t the media report the living cost index showing 6.2 per cent inflation affecting most Australians, and that it doesn’t represent costs including houses? All except one of these living cost indexes shows a higher rate than the 3.8 per cent CPI. Why is the media misleadingly reporting the lowest figure instead of the real figure covering most Australians? 

I have been using adult Australians here for a reason. This inquiry confirmed the Australian Bureau of Statistics does not collect data for inflation affecting the cost of raising children. The latest data my office could find was from the Australian Institute of Health and Welfare, which found it cost $340 a week to provide for two children, a girl aged six and a boy aged 10. That data was from 2018. We don’t know what it is today. There’s not time-series data, no inflation rate over time for children and that seems pretty poor. There are 5.7 million children under 18 here in Australia. It would be useful to know how much the cost of raising those children is increasing. 

As I travel around Queensland I hear so many parents saying how expensive life is becoming—the cost of living under Labor—and how expensive raising children is becoming. The failure to provide data to government on the outcome of government policies on the cost of raising children and an accurate figure for the cost of running a family is a massive failure, a failure which rests with the minister, not the Australian Bureau of Statistics. I call on the government to task the ABS with providing an accurate figure for inflation affecting families. It worries me that it is the figure of 3.8 per cent, not the much more accurate figure of 6.2 per cent, that’s used for wage increases. According to the OECD’s economic outlook report, real wages in Australia are now five per cent lower than they were in 2020. 

Remember, those house prices I mentioned, up from $524,000 to $818,000 in Queensland in four years? After adjusting for inflation, everyday Australians looking to buy their first home are trying to afford that mortgage on five per cent less income. No wonder homeownership seems an impossible dream for young wage and salary earners. Wages should reflect the real cost of living under Labor. Government spending and handouts reduce the inflation rate yet this money started in the hands of employees, who paid that to the government in tax, and the government gives it back to people in subsidies, less the government’s cut for administration. Is this the much-touted Greens circular economy? 

I’ll finish with an idea. Reduce the size of government. Let people keep more of their own money. If everyday Australians feel they’re working harder and going backwards, it’s because they are. I seek leave to continue my remarks later. 

Leave is granted; debate adjourned. 

Everyday Australians have gone backwards by 8.2% since the Albanese Government came to power. The largest reason for this is the net zero madness, which has driven up the price of electricity across the entire supply chain, from the farm gate to supermarkets. While subsidies on household electricity provide temporary relief while in place, businesses don’t get the same assistance and must pass their increased costs onto you.

The solution is simple: end the net zero madness!

Transcript

Under this Albanese Labor government, the buying power of wages in Australia is now eight per cent less than when Labor took office, the develop world’s worst result. Consequently, the Prime Minister’s approval rating has gone from positive 27 to negative six per cent in the latest Newspoll, and down 13 per cent as preferred Prime Minister. The conversation on social media and in person simply won’t move away from just how expensive it is now to live under Labor. 

Fixing this mess is simple: end the net zero madness and destruction of Australia’s productive capacity. Net zero is increasing costs right through the supply chain and forcing up supermarket prices. One Nation would restore competition to sectors like supermarkets, which are oligopolies with foreign wealth funds manipulating prices for their own benefit and then taking those profits overseas, permanently reducing Australian wealth. Residents in some Brisbane suburbs have been hit with obscene rises in insurance of up to 10 times their previous premium. Insurance rose after Brisbane City Council produced a flood map reflecting climate change hysteria—fraud rather than actual historical flood data. Suncorp recently sold their bank because their insurance business is more profitable. How is that even possible in the free market? The Roy Morgan Research consumer confidence index has been below 85 for a record 82 successive weeks. One hundred is neutral; 85 is bad. Only one in 12 Australians expect good times ahead. Aren’t governments are supposed to make things better, not worse? 

Into this environment of despair, the government has introduced its misinformation and disinformation bill. The government wants to talk about anything except housing and the cost of living under Labor. One Nation will remain focused on offering policies to encourage enterprise and hard work to encourage and support families. Its time all Australians can once again enjoy the riches our beautiful country has to offer. 

Meet Andrew Jackson, the One Nation Candidate for Gladstone! Join us for a FREE open forum to ask questions, share your thoughts and explore One Nation’s solutions to the key issues facing Queenslanders.

👉 RSVP here: https://qld.onenation.org.au/town-hall-event

Date: Wednesday 16 October 2024 | 5:30 PM – 7:30 PM

Where: Central Lane Hotel (Beer Garden), 35 Yarroon Street, Gladstone

🥣 Planning on dining in? Call the hotel on (07) 4972 2166 and book your meals directly with them.

👉 RSVP here: https://qld.onenation.org.au/volunteers-and-supporters-meet-up

Friday, 18 October 2024 | 6:00 PM – 8:00 PM

Maryborough Sports Club, Cnr Sydney Street and Saltwater Creek Road, Maryborough

See you there!

I’ll be joining Senator Pauline Hanson and Brettlyn “Beaver” Neal at the Grand Hotel in Mount Morgan, and invite you to come along.

This is your opportunity to ask questions, share your thoughts and explore One Nation’s solutions to the key issues facing Queenslanders.

👉 RSVP here: https://senroberts.com/3zHpdtY

Tuesday, 15 October 2024 | 5:00 PM – 7:00 PM

Grand Hotel, 39 Morgan Street, Mount Morgan QLD

🥣 Planning on dining in? Call the hotel on (07) 4938 2300 and book your meals directly with them.

Candidates from the Gold Coast electorates are joining together to outline their plans if elected in October. This is your opportunity to ask questions and explore One Nation’s solutions to the key issues facing Queenslanders.

Enjoy FREE tennis, plus refreshments and pizza!  🍕

Please RSVP 👉 here to assist with catering numbers.

🗓️ Saturday | 5 October 2024 

🕔 3 PM to 5:30 PM 

📌 GCA Tennis – Function Room

      111-135 Christine Avenue

      BURLEIGH WATERS QLD 4008

Enjoy an evening with thought-provoking discussions and delicious food at the Gympie Sports Club.

This is a fantastic opportunity to chat with myself and Katy McCallum, ask questions and share your thoughts!

Join us for this paid event, which includes a delicious 3-course meal! Enjoy a selection of canapés, blini, tartlets, and sushi for starters. For the main course, choose between Beef Wellington or Mango Macadamia Chicken Filo, and finish off with a delightful Mango Macadamia Cheesecake.

Don’t miss out – reserve your spot now: https://qld.onenation.org.au/dinner-conversations-gympie

🗓️ Sunday, 13 October 2024

🕔 Doors open at 5 PM – Meals served at 6 PM

Gympie Sports Club

2 Shields Street

GYMPIE QLD 4600