Michael McCormack (Riverina, National Party, Minister for Small Business) Share this | Hansard source

It is great to be part of the Turnbull-Joyce-Liberal-Nationals government—and I hear them applauding. They know how proud I am to be part of the Liberal-Nationals-Turnbull-Joyce government. They do know that. And they are cheering. They should be cheering, because we are getting on with the job of boosting growth and boosting investment.

The shadow Treasurer quoted from a speech—a budget speech no less—of a Treasurer from this side of the House. I would like to quote from a Treasurer from the then government benches delivered on 8 May 2012, when the member for Lilley was Treasurer. He started his budget speech on that night, and this is what he said.

The four years of surpluses I announce tonight are a powerful endorsement of the strength of our economy, resilience of our people, and success of our policies.

How did that go? How did that work for the member for Lilley? We all know that Labor would not know a surplus if they fell over one. We all know they have not delivered a surplus for decades. We all know that; it is an absolute fact. The shadow Treasurer opposite knows that. Goodness, gracious—if ever he gets hold of the Treasury benches again, he will continue to produce deficit and debt further than the eye can see.

I rise to speak on the member for McMahon's matter of public importance debate and to place on record the proper plan this Turnbull-Joyce government has for the future of Australia's economy, for the future of Australia's jobs, and to ensure that Australia's more than two million small businesses are central to our economic prosperity.

There are many facets of Australia which make this country great, and I am sure those opposite would acknowledge that fact. Whether it is our entrepreneurial spirit, our sense of a fair go, our natural ability to produce some of the best and most in-demand agricultural and mining commodities, Australia's economy is one that has led the world for more than two decades.

Mr Deputy Speaker, Member for Parkes, I know your patch of Australia, your large patch of New South Wales, has produced much of that agricultural and mining wealth. Well done to the people out in the electorate of Parkes.

There are now people in Australian workforces and at university who have never known a period without growth in the Australian economy. Quarter after quarter, Australia's economy grew, and our gross domestic product increased. Quarter after quarter, small businesses took risks. Farmers took risks. Employers took risks. And the dividend we all reap today are benefits of our 25th year of uninterrupted economic growth.

Today the Australian economy is the world's 12th-largest. It is versatile, it is highly productive, it is multifaceted and it has got relatively low unemployment and relatively high education compared with our trading partners. That is a good thing. That is why our trading partners in the rest of the world look to Australia.

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