Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Hansard source

I do thank the member for Bennelong for his question. I accept that there is, to be sure, a shadow over this parliament today cast by the announcement by Toyota yesterday that manufacturing operations will cease in 2017. But that announcement, devastating though it is, should not obscure the fundamental strengths of our economy. Last week, Coles, for instance, announced a $300 million investment in Victoria to create some 3,000 jobs, mostly in regional areas. Perhaps the largest manufacturing employer in this country is Boeing, an aircraft component manufacturer which is flourishing even though we do not manufacture aircraft here in Australia. Then there are companies like San Remo, a South Australian, family based, food manufacturer supplying some 60 per cent of Australia's pasta requirements—and it is even exporting spaghetti to Italy.

I do not for a second minimise the impact of Toyota's shutdown following on the shutdown announcement of Holden late last year and Ford much earlier last year under the former government. But I do want to assure all members of this House and the Australian people that this government will respond intelligently and in a timely fashion to this latest announcement, and we will do so in full partnership with the Victorian government. In particular, we look forward to partnering with the Victorian government to build economic infrastructure in the great state of Victoria—building, indeed, on our commitment to fund and finish the East West Link, which is estimated to create some 3½ thousand jobs during its construction phase. That is what the people of Victoria need if they are to face the future with confidence.

We need to get the fundamentals right. Government does not create prosperity; profitable business creates prosperity. Governments do not create jobs; profitable business creates jobs. That is why we need to get taxes down, we need to get red tape own and we need to get productivity up. That is the way to increase jobs and prosperity in this country. If I would make a respectful suggestion to members opposite: pass the carbon tax repeal legislation and pass the restoration of the Australian Building and Construction Commission bill. That way, we will get a fair go for the honest workers and the honest businesses of this country.

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