Stuart Robert (Fadden, Liberal Party, Assistant Treasurer) Share this | Hansard source

You've got to deliver. You have to deliver and that's what this government has done. That's what the dividend of sound governance has done. We have delivered. And if we ever want to compare that to those opposite—four surpluses announced in that 2012-13 budget, only to find a final budget figure of minus $21 billion, followed in 2013-14 by minus $48 billion. The old adage is so true—we all know it: you cannot trust Labor with money, because sooner or later they will run out of it and they will come looking for yours.

The next thing, of course, is our plan for a stronger economy, to keep the economy strong. Labor have a plan for weakness—$200 billion in new taxes. That is a plan for weakness, while we have a plan for strength.

Firstly, it is about ensuring government lives within its means, and that starts with not wasting taxpayers' money on pink batts and overpriced school halls.

Secondly, we are returning the budget to surplus. The Treasurer announced in MYEFO that the budget will return to surplus in 2019-20, with a bit over $4 billion increasing to $12 billion and then $19 billion, with an underlying cash balance deficit this year of only $5 billion. Compare that to $48 billion in Labor's last year. Thirdly, it is about lower taxes. Australians will keep more of what they earn under the strength of the economic management by this government. They will lose more under the weakness of those opposite.

Thirdly, we will back small, family, and medium sized businesses to realise their potential and create even more jobs. And, of course, I introduced the bill this morning to see depreciation for small businesses increase from $20,000 to $25,000 as an instant asset write-off. We as a government can do those things because we have stewarded the economy sensibly. We have ensured that we are living within our means and we are backing in the strength of that economy now with a stronger plan.

Fourthly, we're ensuring affordable and reliable energy for householders and businesses by taking on the big energy companies, ensuring 24/7 reliable power and investing in hydro-electricity.

Fifthly, we'll continue to build the transport and technology infrastructure we need. This will help to strengthen the economy and connect people, products and markets. By busting congestion in our cities and building the infrastructure of regional Australia we'll make life easier for families—projects like off-ramps, exit 41 and exit 49 in the electorates of Fadden, my electorate, and Forde; $1.2 billion for the M1, connecting the nation's sixth and third largest cities; and over $110 million for the next phase of the light rail on the Gold Coast. These are some of the core projects that good stewardship of an economy can deliver.

Sixthly, we'll drive all of our industries forward. This means encouraging new technology and service industries and strengthening traditional sectors like resourcing, farming and manufacturing. We'll ensure all Australians of all generations have the skills they need for the jobs of today and those of tomorrow by funding more apprenticeships and with vocational education that responds to the strong economy we are driving forward. We will keep Australians working together by supporting productive, cooperative and law-abiding workplaces. Everyone knows we cannot afford a throwback to the lawlessness and conflict that comes when militant union bosses have too much power. No-one wants to go back there. No-one wants to go back to pattern bargaining. People want to move forward sensibly together.

We will keep big businesses accountable, and you've seen that by this government acting on all 76 recommendations of the royal commission—while we all wait for what the opposition is going to do. We will keep big banks accountable, and you've already seen that through BEAR, the Banking Executive Accountability Regime, and through the banking levy. You've seen what we've done with multinational anti-avoidance law and base erosion and profit shifting, where already we have booked, in cash, $5.7 billion extra through taxation, including a billion dollars for the e-commerce—

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