We want Australians to keep more of their income.When wages rise to keep up with inflation, more and more taxpayers are gradually pushed into higher tax brackets. This means you end up paying a higher percentage of your earnings in tax, even though your real purchasing power hasn't actually increased.

When your wages rise just to keep up with inflation, you are no better off. But you pay higher taxes as though you are.

The Treasurer says inflation will reach 5% next month, meaning a typical worker earning $70,000 each year will see their entire real wage gains taxed away. Under the current tax arrangements living standards go nowhere while the Government banks the difference.

A Coalition Government will end this practice for good. We will index personal income tax thresholds to inflation, so that bracket creep can no longer be used as a silent tax.

From the first day of this leadership, the goal has been simple. Home ownership must once again be the centrepiece of the Australian dream.

Since Labor was elected, 1.4 million people have arrived in this country, roughly the population of Adelaide. That accounts for 80% of population growth, and a shortfall of homes for about 400,000 people.

You cannot solve a housing crisis while running the largest migration program in the nation's history. So we will tie the two together in policy, for the first time. A Coalition Government will cap net overseas migration at the number of new homes we are actually building each year.

If more homes are built, the cap can rise. If fewer are built, migration must come down. Never again will a government bring in more people than the country can house.

Because of the scale of arrivals under Labor, migration will need to sit well below the cap in the first few years of a Coalition Government, to give the housing market a chance to catch up. At the same time, we will get stalled housing projects moving with a $5 billion Housing Infrastructure Fund for the roads, water, power, and sewerage that unlock new estates. Combined with red tape reform, this will save up to $70,000 on the cost of building a new home and unlock 400,000 homes.

Many Australians would be surprised to learn that non-citizens are eligible for welfare. Under Labor, they are.

A Coalition Government will limit access to 17 welfare payments and benefits, including JobSeeker, Youth Allowance, and the Family Tax Benefit, to Australian citizens only. The same principle will apply to future access to the National Disability Insurance Scheme, and to the First Home Buyer 5% Deposit Scheme, which Labor has allowed 50,000 non-citizens to access.

Existing recipients will be grandfathered. Humanitarian and other compassionate visa holders will be exempt. This is not about closing the door. It is about restoring the principle that has held since Federation. If you commit to Australia, then Australia will commit to you. The taxes paid by hard working Australians should support Australians.

Australia's gross debt is heading for one trillion dollars. Every dollar of that debt is a tax on the next generation, levied without their consent. The intergenerational fraud at the heart of Labor's Budget is not caused by older Australians taking too much. It is caused by a Government that has lost control of its spending and is mortgaging the country's future to cover it.

Since Labor took office, the Commonwealth has received almost half a trillion dollars in revenue upgrades, driven mostly by higher resource prices. Iron ore alone is currently trading above $100 US a tonne, while this Budget assumes a return to $60.

Instead of paying down debt or building the nation, Labor has spent the lot on day-to-day commitments.

A Coalition Government will not repeat that mistake. We will establish a Future Generations Fund. Where resource revenues come in higher than forecast, 80 cents of every windfall dollar will be banked. The Fund's first job will be to pay down Labor's trillion dollars of debt. Its second job will be to invest in the nation-building infrastructure Labor has neglected, with 25% set aside for regional Australia, including the completion of Inland Rail.

In a more uncertain world, the most basic test of sovereignty is whether a country can keep the lights on, the trucks moving, and the planes in the air. Australia today fails that test. We are dangerously dependent on other nations for jet fuel, diesel, and the inputs that keep modern life running. Sitting on top of some of the largest energy reserves on the planet, we have chosen to import what we should be producing.

A Coalition Government will abolish Labor's hidden carbon tax, the so-called Safeguard Mechanism, which adds cost to every tonne of steel, cement, and glass produced in this country and drives industry offshore. We will double Australia's minimum fuel reserves to 60 days across petrol, diesel, and jet fuel, bringing total reserves within reach of 90 days. We will invest $800 million in new fuel storage to add more than one billion litres of capacity, and reform legislation to make it easier to build new refineries here.

Government does not grow an economy. Private enterprise does.

A Coalition Government will make it easier to invest, easier to grow, and easier to back yourself. We will enable every business with a turnover under $10 million to immediately deduct any asset valued up to $50,000, on a permanent basis. This is not another temporary write-off that expires before a business can plan around it. It is permanent.

We live in an age of coercion, crisis, and conflict. The world has not been this dangerous in a generation, and Australia has not been this exposed in living memory.

Labor's response has been accounting tricks, cuts to ADF support services, and a defence budget that does not match the threat environment. That ends with a Coalition Government.

We will develop a comprehensive National Security Strategy and appoint a dedicated National Security Adviser, putting the most senior security expertise where it belongs, at the centre of government.