Labor has lost control of the economy.

While the Parliament takes its usual winter recess there is no break in our fight against this terrible Labor Government and the damage they have done to our country.

Under Labor, prices are up. Real wages are down. Productivity is going backwards. And if you are feeling worse off right now, it is not your imagination and it is not bad luck.

You are worse off, because Labor has made you worse off.

Since this government was elected, Australia has recorded the biggest fall in living standards in the developed world.

Not the biggest fall among a handful of comparable economies. It is the biggest fall of any developed nation on earth.

That means families in Rockingham putting off the electrician. That is young couples in Ellenbrook watching yet another auction slip out of reach.

That is small business owners in Bunbury and Geraldton doing the sums on power bills and wondering how much longer they can hold on.

And here is the truly damning part: Labor's own record spending has put the budget on track for a decade of deficits, with national debt now hurtling towards $1 trillion.

This is a government that cannot manage money and when a government can't manage its own money, it comes looking for yours.

That is exactly what we are seeing, with toxic new taxes on housing, on investment, on small business, and on the aspirations of younger Australians who simply want the chance their parents had: to work hard, save, and get ahead.

These taxes are an assault on aspiration. They are locking young Australians out of opportunities that older generations took for granted.

That is not the country any of us want, and it is certainly not the country I am prepared to accept without a fight.

Let's be honest about what is driving this. We have a Prime Minister overseeing a country moving in the wrong direction. He is a leader whose promises have not matched his delivery, and whose competence has not matched the scale of the challenges we face.

Labor has lost control of the economy. It has lost control of migration. And in doing so, it is losing control of the country's future.

Australians did not vote for a decade of deficits. We did not vote for a trillion dollars of debt.

We did not vote for a housing crisis that locks our kids out of the market while government bureaucracy hands tens of millions of dollars to big builders instead of first home buyers.

We did not vote to be told that the answer to every problem is a new tax, a new fund, or a new bureaucracy in Canberra.

This is why the Coalition, under Angus Taylor's leadership, has put forward a credible, fully costed plan to restore our standard of living and protect our way of life.

Every Budget Reply policy we have announced is fully offset over the forward estimates, because we understand something Labor has forgotten: the single best way to beat inflation is for government to control its own spending, not reach further into your pocket.

Here is what that plan means for Western Australia and for the nation:

Our Tax Back Guarantee will deliver an automatic tax cut that grows every year, so inflation stops dragging workers into higher tax brackets when they are no better off in real terms. We will axe Labor's toxic taxes on housing, investment, small business, and the younger Australians trying to build a future.

Our Migration and Housing Pledge will cap migration according to how many homes we can build, because it is common sense that you cannot keep adding demand to a housing market already in crisis without making that crisis worse.

We will put Australians first, reserving welfare payments and the NDIS for Australian citizens, so that our safety net is there for the people who have built this country and paid into it.

Our Future Generations Fund will bank the resource windfalls this country generates and as West Australians, we know better than anyone the value those resources represent to pay down debt and build the national infrastructure our future depends on.

We will deliver affordable, reliable energy, ending green energy rent-seeking and backing whatever technology actually delivers power Australians can rely on and afford, rather than chasing ideology at the expense of your power bill.

We will back small business with immediate write-offs on assets up to $50,000, giving local operators right here in WA the confidence to invest, to hire, and to grow.

And we will strengthen our nation's security with a genuine, whole-of-nation National Security Strategy, committing at least 3 per cent of GDP to defence, because in an increasingly uncertain world, Western Australia's north-west shelf, our ports, and our strategic position demand nothing less than serious, sustained investment in our safety.

We will fund every part of this plan by ending Labor's waste, the corporate welfare schemes like the National Reconstruction Fund, the billions poured into green energy projects that simply do not stack up, and the bloated climate bureaucracy of the EV tax rebate, the Net Zero Authority and the Rewiring the Nation Fund.

We will end Labor's housing bureaucracy that has failed to build the homes this country needs. This is what responsible economic management looks like.

I won't pretend to you that trust in politics is where it should be. Australians have had a gutful of lies, incompetence and excuses, and plenty of that frustration has understandably spilled over onto the whole political system.

But I also see genuine, encouraging signs of support building across the community for our Tax Back Guarantee, for our housing and migration pledge, and for our commitment to put Australians first.

Trust that is lost is not rebuilt overnight.

It takes hard work, discipline and consistency, every single day, in every part of this country, including right here in WA.

That is exactly what our team is doing. We are out talking to Western Australians in Perth, in the regions, and everywhere in between, laying out a positive, fully-costed plan to get this country back on track.

Labor got us into this mess. The Coalition has the team, and the plan, to get us out of it. I will keep fighting for a fairer, freer and better Australia and for Western Australia's fair share in it.