David Gillespie (Lyne, National Party) Share this | Hansard source

The coalition government has delivered a strong growing economy, which is delivering dividends for the whole nation. We have been able to give tax relief to hardworking Australians so they're rewarded for their hard work. We have been backing small business so they can create jobs. The government set the atmosphere for the economy to thrive, and we've certainly done that. We are fixing the budget. We're bringing it back into surplus this calendar year. All the time we've been reducing taxes and growing the economy—we've been growing the pie that delivers the tax revenue—the tax rates have been lower for individuals and companies.

We've been putting more money into keeping Australians safe. We've been protecting our borders and ramping up the financial support for Federal Police, for ASIO, for the security agencies and for our Defence forces. Our economy is growing at a better rate than most of the G7 countries—2.8 per cent GDP growth. That's an amazing record.

We have in our time in government developed free trade agreements with China, Korea, Japan and Chile. We've recently added wine agreements with the UK, giving the turmoil that they're going through, so our wine can still keep going there. In the last year alone, we've created over 100,000 jobs for young people. That's part of a broader jobs growth since 2013 of 1.2 million. That is an amazing growth record.

Health spending and school spending have both increased. The number of people relying on income support amongst working-age people is at the lowest level in at least 20 years—14.3 per cent of those of working age are requiring income support. That means the best form of welfare is to get people into a job. Not only is it financially better, but it's better for your mood, your psyche, your family, your relationship and your personal pride, and it is a great role model for your children.

We've also, as I mentioned, given tax relief for hardworking families. We have reduced tax for 3.3 million people and we have also reduced taxes for small business. Small businesses employ seven million people, Mr Deputy Speaker—knowing your background, I know you appreciate the value of small business. Whilst we've been reducing the spending and reducing the deficit so we can be in surplus this year, we have $75 billion worth of infrastructure being rolled out.

We've been supporting people in droughts. With the recent flood disaster in north-west Queensland, we've been supporting them. And what is at risk? The other side—the Labor Party, the Greens, and the Independents—want to go on a tax-a-thon. They want to get rid of the tax cuts we've given small business and families. They want to increase taxes by putting in a budget repair levy again of $7 billion. They want to tax your houses, which will reduce in value if they get rid of negative gearing. Even the threat of them coming in, with the population flirting with the idea of having a Labor government, has sent investment in property into quite a serious correction.

New taxes and negative gearing are also going to affect people's superannuation funds. Not only the new four taxes on superannuation that they have outlined, whether it's a contributions tax rate or limiting the catch-up for women who have been out of the super contribution scheme; it's going to affect many people with an existing self-funded superannuation fund. The retiree tax defies common sense, fairness and just about anything you can consider economically cannot justify what they are proposing. I have more pensioners and self-funded retirees than just about any other electorate, and they want to double-tax their investments. It's a bit like proposing that a PAYG earner receives their pay and then has to pay tax on it again. We have no double taxation like the Labor Party. They want to tax people who have taken the responsibility of looking after themselves, and it's manifestly unfair and bad for the economy.

See this speech in context