Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for La Trobe for his question. He knows that the global economic times at present are very uncertain—there is a lot of volatility. Those opposite seem to scoff at that, but that is a reality and I know that that is a matter of some concern to Australians, whether it is in the electorate of the member for La Trobe or elsewhere. In these types of times it is very important that, as a government, we continue to do everything we possibly can to strengthen, not weaken, our financial position. We must strengthen our financial position. We need to do everything we can in this transitioning economy, which is successfully transitioning, to back Australians who are out there every day making that transition successful. The ANZ job ads figures show that we have had an 11.2 per cent increase over the past year. That is good news. December quarter retail sales figures were up, and that is also good news.

The Reserve Bank governor has constantly made the point that we are seeing this economy successfully transition, but our role in all of that is to back Australians in by ensuring that we have the strongest financial position that we can possibly have. The way you do that is that if you are going to pursue new measures, if you need to spend more on very important things, you fund them from savings—not through higher taxes, which is the approach of those on the other side. We are seeking to put through some very important new expenditures to support families being able to afford child care in this country. That is not an inexpensive proposition. But we on this side of the House have identified more than $3 billion in savings to pay for that important new expenditure.

Ms Macklin interjecting—

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