Senator Dave Sharma

For many in the Indian Australian community the promise of Australia has always rested on opportunity, stability and a high standard of living built through discipline and hard work. Yet today, that sense of reward for effort feels increasingly under strain.

While central banks across major economies from the United States to the United Kingdom can pause and see amid global uncertainty, the Reserve Bank in Australia has already been forced to raise rates. This divergence highlights a deeper domestic challenge as inflation remains persistently high.

At 3.7%, inflation in Australia exceeds that of comparable economies, placing additional pressure on households already struggling with rising living costs.

For migrant families, these pressures are very real. Many have taken on mortgages, invested in small businesses, or are working steadily toward financial stability. Now, interest rate increases are pushing up monthly repayments, while higher fuel and energy costs are further squeezing household budgets.

The key question is how did Australia reach this point? Government spending is now at its highest level outside a recession in four decades.

Indian Australians are known for their fiscal prudence and understand the need to live within their means; however, the Government is close to reaching $1 trillion in debt.

While the Coalition welcomes the cut to fuel excise in principle, this policy was not paired with the sensible measures we proposed to offset its inflationary impact. This raises the risk of further stimulating demand and driving prices even higher.  

It is worth noting that it was not until after the Coalition called for a cut to the fuel excise with reasonable spending offsets, that Labor decided to act.

Australia now faces a critical moment. Restoring economic balance will require more than short-term relief measures. It demands a renewed focus on disciplined spending, sound economic management, and policies that foster sustainable growth.

For a community that has contributed so much to Australia’s prosperity, the expectation is clear: Australia remains a place where hard work is rewarded, the cost of living is manageable, and the future remains secure.

Contributing Author: Dave Sharma is Shadow Assistant Minister for Citizenship and Multicultural Affairs, Shadow Assistant Minister for International Development and the Indo-Pacific, and Senator for New South Wales

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