Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

the way in which the fertility rate has been declining. As we have focused Australians’ attention on the importance of the fertility rate, as we have focused Australians’ attention on the challenges of the ageing of the population, many people have changed their attitudes towards having a family, and I think that is a good thing. We should not overstate these changes. The replacement fertility rate is 2.1, so we are still substantially below that replacement rate. But unlike Europe, Japan and many other industrialised countries, ours is ticking up and not ticking down.

I also believe that the government’s policies in relation to families have been very important. I refer to the provision of extra childcare places, the introduction of the childcare rebate, the introduction of the maternity payment or baby bonus, and of course the increases in the rates of family benefits. Let me remind members of the House of this: every year, a payment of $600 per child per annum is received by the families of Australia. If you have two kids, it is $1,200; for three kids, it is $1,800—in a lump sum. Let me remind the House of one other thing: that is real money. It goes into the bank account; it comes out of the bank account. It can be used in exchange for goods and services. It is real money. You can even take it in cash.

We know that there were suggestions from the Labor Party, from another one of the frontbenchers auditioning to be shadow treasurer at the moment, the member for Lilley, that this money did not exist. The families of Australia know differently. They get it per child per annum—real money to help them with the costs of raising children in this society.

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