Kelly O'Dwyer (Higgins, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Trade and Investment. Will the minister inform the House how trade and investment boosts the government's Economic Action Strategy and how this will support sustainable economic growth and job creation?

Opposition Members:

Opposition members interjecting—

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

Madam Speaker, I rise on a point of order. It was quite impossible to hear the member for Higgins's question, and I ask her to repeat it.

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

I could not hear it either. Would the noise on my left cease. I wish to hear the question as much as others in the House, the people in the galleries and those listening. If anybody does not wish to represent their constituents in this place they can leave under 94(a). The member for Higgins has the call.

Kelly O'Dwyer (Higgins, Liberal Party) Share this | Link to this | Hansard source

Thank you, Madam Speaker. My question is to the Minister for Trade and Investment. Will the minister inform the House how trade and investment boosts the government's budget Economic Action Strategy and how this will support sustainable economic growth and job creation?

Andrew Robb (Goldstein, Liberal Party, Minister for Trade and Investment) Share this | Link to this | Hansard source

I thank the member for Higgins. Unlike those opposite, the member for Higgins fully understands that it is business, large and small, that is best placed to drive sustainable economic growth and therefore jobs.

Opposition Members:

Opposition members interjecting—

Andrew Robb (Goldstein, Liberal Party, Minister for Trade and Investment) Share this | Link to this | Hansard source

Don't you talk! 519,000 lost jobs in the small business sector in your term of office. You ought to keep quiet on this question. It is business, large and small, not the hand of big government through unsustainable debt fuelled spending, not a continuation of the firestorm of choking regulation, not more futile and job-destroying taxes, not more decisions taken at the behest of the unions and the Greens—it is business, large and small, that drives sustainable growth. For this reason we are trying to displace big government and replace it with robust growth of the private sector. Improved trade and investment is an important part of driving that robust growth of the private sector.

Concluding significant trade agreements opens up new doors for business. They lead to job creation. They lead to growth. We have concluded landmark agreements with Korea and Japan. We have achieved in seven months what those opposite could not do in six years and six months. We suspect Labor failed to conclude an agreement not because of incompetence—no, not incompetence; they did not have their heart in it. They were following the instructions of their anti-trade union bosses.

Opposition members interjecting—

We saw a firestorm of regulation going through this place at your behest, Leader of the Opposition. The Korean agreement will add $650 million a year to our economy. It will create more than 15,000 jobs, excluding significant services gains. The Japan agreement will open up major new export opportunities for a range of agriculture, horticulture and services. The beef industry alone is going to see increases of some $300 million to $400 million a year. We are making good progress with the free trade agreement with China—we concluded another round this morning and it gives me even more optimism that we can conclude this year. This will deliver, again, further gains.

On the investment front, since the First Fleet we have relied on foreign investment to help grow the economy, and that remains true today. Over the last seven months I have chaired 28 investment roundtables in 10 countries. It is delivering results. We are seeing billions of dollars come into Australia. Those opposite left behind a real mess. We are making a strong start to finishing it.

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

After 23 well-answered questions, I ask that further questions be placed on the Notice Paper.