Michael McCormack (Riverina, National Party, Parliamentary Secretary to the Minister for Finance) Share this | Hansard source

Well, the Australian public could wish, too, member for Gorton, because, certainly, all they ever cop from that side is endless confected outrage. The repeal of the mining tax is a case in point. It is true that we had to make some compromises, including a delay in planned increases in the rate of the superannuation guarantee. But we would not have had to do it if Labor had respected the clear mandate we were given at the last election to abolish the mining tax. We were always up-front about the need to abolish the low-income superannuation contribution scheme. We were very clear with the Australian people that Labor's failed mining tax did not raise anywhere near the revenue needed to pay for it. Even with the compromises that needed to be made, the repeal of the mining tax and associate measures will still improve the budget bottom line by around $10 billion over the current forward estimates.

Now, if Labor really cared about working Australians they would not have left a legacy of debt and deficit, because leaving a country with a surplus provides jobs. Labor goes on about being the party of the workers, but how many people lost their jobs because of Labor's failed policies? We had a timely reminder of the debt and deficit legacy just last week with the release of the final budget outcome for 2013-14. Labor initially forecast a surplus of $5.4 billion for 2013, but we now know that the result for the year came in at a deficit of $48½ billion. That is a $53.9 billion difference. That is pretty close by Labor's standards—'missed it by that much'! Just that much!

We are taking decisive action to address serious unresolved issues left to us by Labor. We have restored the health of the Reserve Bank's capital buffer, cleared the ridiculous backlog of unenacted tax measures and addressed a funding shortfall for the processing of unauthorised maritime arrivals. We are putting spending on a sustainable path and repairing the budget at a time when a weakening economy is continuing to put pressure on tax receipts. We are growing the economy with record investment in productive infrastructure which will create jobs. If Labor really cared about working Australians—really, genuinely cared—they would get on board with our efforts to re-energise enterprise in this country, in this nation—particularly in regional Australia, where our food, fibre and mining wealth are derived.

Today, the Deputy Prime Minister launched round 1 of our $1 billion National Stronger Regions Fund. We heard in question time a list of just how much that is going to make a difference to regional areas and regional jobs. This is a fund which will deliver real money—not like the phoney money that Labor comes up with—to fix real problems in local communities, creating the right conditions to create real jobs. The fund will invest in important infrastructure projects nominated by local communities, ensuring that Australia's regions are investing in their own futures. Projects funded will have a focus on strengthening economies in Australia's most disadvantaged regions by improving their productivity, economic opportunity, employment and workforce skills. That is exactly what we need.

The National Stronger Regions Fund will complement a reinvigorated Roads to Recovery program, and I know how much that has meant to the Riverina electorate. It was just announced yesterday. As the Deputy Prime Minister announced yesterday, we are making good on our commitment to double Roads to Recovery funding next year to $700 million. This will greatly assist local councils in being able to meet local construction and repair needs.

Today, we also took a significant step towards a Western Sydney airport at Badgerys Creek, with the Deputy Prime Minister commencing discussions with the Sydney Airport Group. We are getting on with the job of fixing the nation. He is a busy bloke, the Deputy Prime Minister, and the fine work that he and other Nationals in government are doing makes a mockery of the claims made by those opposite that the Nationals are not sticking up for rural and regional Australia—the Nationals, and some excellent regional Liberals too, I might add. We are going to hear soon from the member for Corangamite, an outstanding representative for her electorate. Earlier today she dared other members to sign up to her petition to secure the future of the East West Link. I hope she mentions it again so that the relevant members opposite—that is, if any of them bother to turn up—have a chance to reconsider.

We are also going to hear from the member for Eden-Monaro, another great local member who understands business.

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