Dan Tehan (Wannon, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline how removing restrictions on businesses creates the environment for competition and growth? What does this mean for the constituents of Wannon?

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

That is an exceptionally good question. It means for his constituents that they have got a better chance at a job and a well-paid job. That is what removing restrictions on business does. It gives the opportunity to create jobs. That is why the coalition is proceeding with removing the restrictions on Qantas. We want Qantas to have growth. We want Qantas to create more jobs. That is what we are focused on. Once upon a time there was a Labor shadow minister for transport who said this:

Labor is on the record as having an open mind on the relaxing of the 49 per cent foreign ownership cap on Qantas as we recognise that without significant capital investment the airline is putting at risk its future international and domestic competitiveness.

That was a former Labor transport spokesman in 2002. But, in case that was a false press release, in 2004 we had this, under the headline 'ALP rethink on Qantas ownership':

A Labor government would consider lifting the restrictions limiting foreign ownership of Qantas to 49 per cent in a significant shift in policy.

What happened to Labor? For a more contemporary view, I went to the book. I went to the book—the member for McMahon. Don't worry: I didn't buy it, I got it from the library. I don't do retail; I'm half Arab. I can't even find it in a remainder bin. The member for McMahon, the now shadow Treasurer, said:

Political parties have a choice: they can lead the debate on foreign investment, or they can follow it. Tony Abbott's Liberal Party has decided to follow it, and Labor must lead it.

Where is Labor leading us? He goes on to say:

All round, foreign investment is a good thing for Australia. There is an obligation for responsible Australian political parties to lead this debate … Promoting foreign investment to promote growth would be a very Labor thing to do.

You see, we do not know what Labor stands for. They have got a snollygoster as a leader, who doesn't have any consistent principles. Labor is actually going back to a pre-1992 position on Qantas. To the member for Gorton, I want you to know: Qantas is not owned by the government anymore. The Commonwealth Bank is not owned by the government anymore. If there is anything else he needs to know, ring a friend. The Commonwealth Serum Laboratory is not owned by the government. TAA isn't in the skies anymore. I say to the Labor Party: please be consistent, please be principled, please do the right thing by the Qantas workers.