Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. I refer the Treasurer to his previous budget related statement, that Labor is committed to 'bringing the budget back to surplus, and we are absolutely going to see the creation of over 500,000 jobs in the next couple of years'. Given that the Treasurer has to create 70,000 jobs a month by June to honour that promise, should Australians start preparing for yet another broken promise like the 'come hell or high water' guaranteed surplus?

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

I thank the shadow Treasurer for that question, because this government makes no apology for putting jobs and growth first. We have got the employment figures out today. There have been 850,000 jobs created in this country under this government. That has happened under the most difficult of circumstances—a global financial crisis and then, at the end of last year, another bout of global volatility. In the second part of year, we saw Europe go into recession, we saw a question mark about Chinese growth and we saw slight growth in the United States. In those circumstances, the performance here in the Australian economy, unlike other developed economies, has been second to none—850,000 jobs.

The Leader of the Opposition was asking before about cost of living. Let me tell you this. When it comes to cost of living, the most fundamental thing that a family needs is a job. Those opposite do not get that connection between living standards and jobs, because, if they did get that connection between living standards and jobs, they would not put forward the absurd proposition that right now we should be cutting economic growth and cutting jobs, and they most certainly would not be putting forward the fact that they, in their budget strategy, have to cut the budget by a further $70 billion. That would hit growth and it would hit jobs.

Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

Madam Speaker, I rise on a point of order. The question was about the honesty and integrity of the Treasurer's word. Given that 160,000 jobs have been created in 21 months, how is he going to deliver an extra 70,000 jobs a month to meet that promise from the budget?

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The shadow Treasurer and member for North Sydney will resume his seat. The Treasurer has the call.

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

Putting forward the proposition in the way that he has, he is making the Tea Party look rational! The facts are these. When conditions in the global economy change, so too do responsible governments, and this government, at the end of last year, made the judgement that to cut further in the budget would hit growth and it would hit jobs. Because our No. 1 priority is economic growth and jobs, we are not going to go through and cut as they propose. That is what they are proposing: that you do not change in response to global economic conditions—you just continue going down the same road—which is why they are such a danger to our economy, because their proposal now is to cut $70 billion, at least, from the budget. If you are going to take their propositions logically, that is what the shadow Treasurer is saying. That would mean a Newman-style attack on health and education in the Australian economy.

Peter Dutton (Dickson, Liberal Party, Shadow Minister for Health and Ageing) Share this | Link to this | Hansard source

How is this relevant?

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Treasurer will return to the question.

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

That would push up unemployment in our community dramatically. That is the type of fiscal policy which is being put forward by the opposition. (Time expired)

Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

Madam Speaker, I ask a supplementary question. The Treasurer referred to jobs and growth. Treasurer, isn't it a fact that on average, under the coalition, jobs growth was higher than it has been under Labor and economic growth was higher than it has been under Labor?

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

I am certainly pleased to answer that question. Those opposite like to pretend that the global financial crisis never happened—it never happened. As a consequence of that—because it did not happen in their world; their alternative universe—they would have cut $160 billion from the budget.

Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

Speaker, I rise on a point of order on relevance. It was a simple question with a yes or no answer. It is a factual question. Deal with the facts.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The standing order says 'directly relevant', but when there is so much in most of the questions you do provide latitude for many things to be directly relevant to the question. The Treasurer will return to the question.

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

I certainly will. The performance of the Australian economy over the past five years in generating employment of 850,000 jobs has simply been a superb performance, and it is one that all Australians are very proud of. When you look at what has occurred right around the world, there is double-digit unemployment across most developed economies. There is very significant unemployment still across the United States. We have performed very well, unlike other developed economies, because this government has had the guts to support our economy and to put jobs and growth first, unlike those opposite.