Ian Goodenough (Moore, Liberal Party) Share this | Hansard source

Since the last election, the Abbott government has delivered on a number of key election promises to the Australian people in a number of areas including budget repair, abolition of the carbon tax, abolition of the mining tax, restoring border security, cutting red tape and delivering a range of social services to support families, youth and seniors in our community.

The government has begun the budget repair process by correcting the trajectory of debt and deficit left by Labor. As the Treasurer stated on budget night, this government inherited $123 billion in cumulative deficits. However, as a result of responsible budget measures, the projected cumulative deficit is expected to be reduced to $82 billion over the next four years. On a daily basis, the Treasury currently borrows $96 million just to pay the bills, down from the $133 million a day that this government inherited. This government has a plan to reduce the deficit and debt.

The government has abolished the carbon tax introduced by the previous Labor government, which made Australian industry less competitive against emerging nations in our region and burdened consumers with higher electricity prices. The abolition of the carbon tax has resulted in reductions in electricity prices across Australia. Treasury estimates that the abolition of the carbon tax will reduce CPI by around 0.7 percentage points for the year to the June quarter of 2015.

The abolition of the mining tax has benefited the mining industry, which employs thousands of workers and is a significant part of the economy in my home state of Western Australia. The mining industry is experiencing hard times and if the mining tax have been left in place, it would have resulted in further job losses.

The Abbott government has restored order to Australia's planned immigration system by stopping the stream of illegal maritime arrivals seeking to enter our borders through people smuggling networks. Under the previous government, there was an $11-billion blow-out. Stopping the boats is saving the Australian taxpayers $50 million a month and ensuring that the borders are secure.

The government continues to deliver on its deregulation agenda by cutting red tape. Under the former Labor government, Commonwealth regulation was costing Australians approximately $65 billion a year, equivalent to 4.2 per cent of GDP. As a result of the Abbott government's deregulation program, the regulatory cost burden is reduced by $2.45 billion. To date, the government has implemented $1.57 billion of the $2.45 billion in projected savings.

The government is delivering on its commitment to increase employment participation and provide the skilled workforce needed to build the economy including $212 million earmarked for the youth Transition to Work program to assist job seekers transition into the workplace. Six thousand places have been provided in the National Work Experience program and $106 million to provide intensive support trials for job seekers of all ages from disadvantaged backgrounds. Furthermore, $1.2 billion has been included in the national wage subsidy pool to counteract long-term unemployment.

The government is delivering for families through a family support package of $4.4 billion through the current budget. It is estimated that up to 165,000 Australian parents have a willingness to return to work but find the cost of child care prohibitive. By providing families with childcare assistance, parents will be assisted to return to the workforce bringing skills, expertise and productivity back to the economy.

The government has provided a $44-billion package in the budget for the age pension, which accounts for 10 per cent of all government spending. The age pension will continue to increase twice a year, using the highest available indexation rate. Seniors who currently have a pensioner concession card will continue to be eligible for a concession card that provides the same benefits, such as subsidised utilities, transport, bulk billing, and cheaper PBS prescription medicines. For self-funded retirees, there will be no new taxes on superannuation under the Abbott government. (Time expired)

See this speech in context