Mike Symon (Deakin, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. What is the government doing to spread the benefits of the mining boom to help families make ends meet and to get ahead?

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Deakin for his question. What we are doing is putting in place economic settings which mean solid growth in our economy, low unemployment, contained inflation and a budget returning to surplus, along with rock-solid public finances and a huge investment pipeline. All of this comes about because we took the correct actions during the global financial crisis to avoid recession. The consequence of that has been something like 800,000 jobs created in this country over the past four years. We now get to a situation where our unemployment rate is 4.9 per cent, the envy of the developed world.

We have not seen or heard anything positive from this opposition about that good economic news. They just hate to hear good economic news. That figure of 4.9 per cent came through about three weeks ago and there has not been one positive comment from the Leader of the Opposition about an unemployment rate in our community of 4.9 per cent. Last week we had the new figure of half a trillion dollars invested in resources. Did we hear one positive comment from the opposition about that? No, no positive comments at all. Why is that? Because we have here in this opposition leader the most reckless and the most dangerous opposition leader we have ever seen in the history of our country. We have never had an opposition leader as negative as that man opposite. He will say anything and do anything to talk our economy down—and while he talks it down he then turns around and complains about lack of confidence. In America they have a term for that—it is called 'putting sand into the gears' and then complaining about things not working. That is what this opposition leader is all about, throwing sand into the gears.

Mr Tony Smith interjecting—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The member for Casey will remove himself from the chamber under 94(a).

The member for Casey then left the chamber.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

Despite the negative approach of those opposite, we are getting on with growing the economy and spreading the benefits of the boom right around our economy. Tripling the tax free threshold—that will be ripped out by those opposite. Putting in place increases in payments—all those to be ripped out by those opposite. We understand what it is like to make ends meet. We understand that families out there need additional support with the cost of living. But, of course, those opposite will oppose anything, say anything and do anything in this House, and we just saw another example of that from the shadow Treasurer. What they demonstrate every day of the week is that this opposition leader is too destructive and too negative to ever be put in charge of a $1.5 trillion economy.

Mike Symon (Deakin, Australian Labor Party) Share this | Link to this | Hansard source

Madam Deputy Speaker, I have a supplementary question. The Treasurer has talked of assistance to families. Can the Treasurer also outline the importance of delivering tax cuts to families and a tax break to small business to help spread the benefits of the boom?

Opposition Members:

Opposition members interjecting—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The Treasurer has the call and will be heard in silence. The Manager of Opposition Business on a point of order.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Deputy Speaker, I fail to see how that can be a supplementary question when in fact the Treasurer did not talk about assistance to families. All he did, actually, was slag off the Leader of the Opposition.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business will resume his seat. The Treasurer has the call.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I was asked about tax relief for small business, and the government is getting on with the job of making our businesses much more competitive. The $6,500 instant asset write-off will come in from 1 July and that will be there for up to 2.7 million small businesses. And guess what? Everyone on that side of the House voted against this measure for small business so they can grow and be more competitive. In the budget we had the loss carryback, and that is going to be of benefit to many small businesses right across our country.

There is a clear contrast with those opposite. They want to put up the company tax rate. They want to put it up to 31.5 per cent when they have been in this House opposing tax relief for small business. This morning we had the member for Higgins out there with an article in the Financial Review calling for lower corporate taxes, calling for lower taxes across the board, when the Leader of the Opposition is going to put the tax rates up. And the member for Higgins has been in this House opposing tax relief for small business.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

Order! The Treasurer will return to the question before the chair.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

This just shows how dangerous those opposite are and what lack of consistency they have. The member for Higgins obviously thinks the Leader of the Opposition does not read the Financial Review, and of course that is what her former employer would have said—'economically illiterate'.