Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

I thank the outstanding member for Bennelong for his question. The national accounts this week provided an important snapshot of our economy. Our economy is steady and sturdy in the face of some pretty intense pressure. It's holding up pretty well despite the rate rises which are already in the system and the slowdown in China. We're optimistic about the future of our economy and the future of our country, but we are also realistic about pressures on Australians right now, the way that our economy is slowing and the difficult months that we anticipate ahead.

There is always a premium on responsible economic management, but especially in uncertain times like these. That's why we are working for Australians, rolling out relief, getting wages moving again, getting the budget in better nick, investing in the future and cleaning up the mess that was left behind by those opposite. We're seeing welcome progress in moderating inflation and in the national accounts, especially when it comes to wage and salary income over the last financial year, growing at the fastest rate in three decades. We see it in the fastest employment growth over the last financial year of any time in any financial year since 1985. Half a million jobs created our on watch, more people in work and earning more, the first surplus in 15 years—all of that is putting us in good stead for the uncertainties ahead. That's what responsible economic management looks like, and that's what was missing in the wasted decade before we came to office.

Speaking of the last decade, I heard the member for Bendigo, the member for Capricornia and others say that today is the 10th anniversary of the 2013 election. I congratulate my colleagues on their anniversary—even the member for Hume, as I understand it. Having been here for a decade now, I'm sure it's not lost on the member for Hume how strange and unusual and potentially unprecedented it is that, in the week of an RBA board decision and the national accounts, he's yet to ask me a single question this week—not about the economy, not about anything at all, not even a 'how's it going'. There's been not a single question from the shadow Treasurer opposite. And the lengths they went to yesterday to prevent him asking a question! They sat there and they had a choice: shall we let the member for Canning humiliate himself, or shall we let the member for Hume humiliate himself?

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