Tony Abbott (Warringah, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Treasurer. I remind him that the respected research firm Roubini Global Economics has warned, 'Consumer sentiment has taken a hit due to the government's big miss on the budget this year.' To help consumer sentiment, why won't the Treasurer reverse Monday's planned increase to the carbon tax?

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

I reject the premise of the question entirely. This government has a AAA credit rating from the three major global rating agencies with a stable outlook. If you go through the reviews of the budget, and most of the analysts agree, you will see that people appreciate that our support for jobs and growth is absolutely fundamental to our future prosperity. There is only one threat to that, there is only one threat to confidence, and that is the approach of the Leader of the Opposition and those opposite. They have said very clearly that they will take an axe to jobs. Just because the global economy took an axe to our revenues does not mean that we should take an axe to jobs and growth. But that is the position of the Liberal Party in this House. The position they are putting forward is European-style austerity policies. This was repeated again by the shadow Treasurer yesterday in a speech.

Tony Abbott (Warringah, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

Madam Speaker, I rise on a point of order. It was a very simple question: why won't he axe the tax increase for next Monday? He should answer that.

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

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

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

What we are seeing from this Leader of the Opposition is simply more fearmongering—talking our economy down and trying to exaggerate the impact of a carbon price. Everybody on this side of the House believes that dangerous climate change is something that should be tackled. To the Leader of the Opposition it is just: something is happening out there. Well, something is happening out there and we are dealing with it, as a responsible government that faces up to the challenges of the future. We will always deal with the challenges of the future. We are dealing with the funding model for education. We are investing in the NBN and facing up to the challenges of the future. The consequence of that is an economy which is growing which is the envy of the world, supporting jobs and growth. There is a clear alternative: those opposite would take an axe to jobs and growth in this economy, with austerity European style. That is the only threat to confidence in this country.

Mr Ewen Jones interjecting—

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

The member for Herbert is warned!