Melissa Price (Durack, Liberal Party) Share this | Hansard source

I note the word 'failure' is used in this MPI today. We on this side of the chamber know a thing or two about the failure of those opposite as we were left to fix the economic mess created by them some three years ago. I am very pleased to rise in this House today to speak on this so-called matter of public importance, although it is highly misleading. Why is that? Let's look at the facts. We have heard a few of them today. We know that the gross debt that the last Labor government left behind was $310 billion and that the net debt was $191.5 billion, with a very healthy trajectory. We heard recently about their black spots as well. So, clearly, they are not getting any better with their money use. When those opposite were in charge of the country's purse strings they were true to form. They funded everything and anything, from the pink bats disaster to Mr G's performing arts schools, which, if left unchecked, would have left a massive tax burden for generations to come. However, we on this side are left to fix the mess. Last night's budget illustrates that the Turnbull government has an economic plan that ensures that Australia successfully transitions to a stronger and more diversified new economy.

To the hardworking Australians: the adults are in charge and we are looking after you. We, the Turnbull government, delivered last night's budget, which is about two things: jobs and growth. It is worth repeating: jobs and growth. More jobs for the good folk of the Kimberley, the Pilbara, the Gascoyne, and more jobs and economic growth for the people of the Midwest and Wheatbelt. These are all areas in my large electorate of Durack.

Our transition to a diversified economy includes policies such as the National Innovation and Science Agenda, which will be Australia's way forward. Science, health, research, IT and defence are just a few of the industries which will be boosted through our agenda. As we transition out of the construction- and mining-led economy, the people in the north-west of my electorate know only too well the importance of creating new industries and investing in the jobs of the future. These are the people who have been hit the hardest from the slowdown of the mining construction boom.

The assistance for middle-income earners is music to the ears of the hardworking people in Durack and it also provides an incentive for people to work harder and to earn more. I am sure you can recall that I have said on many occasions that governments do not create jobs; businesses do. There was the announcement last night that small and medium sized businesses with an annual turnover of $2 million will have their taxes significantly reduced to 27.5 per cent. This is exactly the sort of environment which will assist our backbone of the country. Small and medium sized businesses will be able to create the jobs that we desperately need in our economy. What we do know is that within 10 years our company tax rate will be down to 25 per cent, which is good news all round.

There are some great announcements in the budget regarding young people. The one I am particularly pleased about is the $1.4 billion announcement with respect to more education funding. This particular fund is going to ensure that all students in all schools around Australia have the bare basics for their education and for their long learning for life. For things like literacy and numerously—we have all got terrible examples of young people leaving school without the basics—we will ensure that these issues are covered off.

In other good news regarding young people—I do not consider it a failure; I think it is an absolute success—we hear that young people often cannot get their first foot on the ladder. They have no experience, so employers will not employ them. I hear this time and time again. You hear from employers: 'Well, I don't want to give a young person a go, because they are inexperienced.' We, as the government, have not failed. We have come to the rescue. We have said, 'Why don't we be the broker in this situation?' I am very pleased that we have announced our Youth Jobs PaTH initiative, with some $750 million, which, over the course of four years, will see thousands of young people given an opportunity to get their first foot on the ladder. We start with skills training, and that will begin from April 2017, moving to an internment placement initiative where we will see up to 30,000 young seekers each year being eligible to undertake an internship. Following that, there will be a youth bonus wage subsidy to the employers who are willing to take a risk with those young people. We are going to back employees and employers, and we are going to create the jobs for the future.

Debate adjourned.

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