The latest National Accounts data reflects the pain Australian families are feeling as they try to make ends meet.

This data is the economic scorecard for the Albanese Labor Government.

It confirms what every Australian is now feeling – Labor is sending our economy in the complete wrong direction.

Our economy is barely clinging to life. The only reason it has faint pulse is because of migration.

There is one person moving to Australia every 44 seconds. This does not make for a healthy economy.

Today’s data shows GDP per capita has gone backwards for seven consecutive quarters. This is the longest household recession on record.

The numbers today confirm Australians’ living standards have fallen off a cliff – the largest fall on record.

Australians’ living standards have fallen 8.7% since the election – the largest fall in the OECD on a per capita basis. Australia has never experienced a collapse of this size.

The only plan Labor has is for a big Australia, a big government with big spending. The Treasurer’s addiction to spending is sending Australia broke.

Productivity has fallen off a cliff. It has collapsed 6% since the election.

Since Labor came to government interest payments have tripled. A family with a typical $750,000 mortgage has had to pay almost $50,000 more on their mortgage.

Labor’s combination of higher taxes, reckless spending, and big government are keeping prices high and making Australians poorer.

The Coalition will get Australia back on track by boosting investment, increasing competition, cutting government waste and red tape, rebuilding business, lowering taxes and delivering secure, low emissions energy.

ENDS.