Nickolas Varvaris (Barton, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Small Business. Will the minister outline to the House why it is important to fix the budget to build a stronger economy and more secure Australia, particularly for small businesses in my electorate of Barton?

Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

It is great to get a question from the member for Barton. He is a great advocate for his community and the small businesses in Monterey, Bardwell Park and Carlton. And isn't it interesting: it has been some 217 days since the Labor Party thought small business mattered enough to actually ask me a question. Doesn't that tell you all you need to know about where Labor is at?

Ms Kate Ellis interjecting—

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

The member for Adelaide will leave under standing order 94(a).

The member for Adelaide then left the chamber.

Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

I know on this side we love small business and we will work as hard for them every day as they do for their success. Part of that is getting on with the job of repairing the debt and deficit disaster left to us by the former government.

We did not create the problems. We did not create the trajectory of debt, which will cost $25,000 for every man, woman and child. The Leader of the Opposition can smile and smirk and be pleased with his work, but not many others are. The Australian small-business community are not pleased with your work, Leader of the Opposition—five hundred and nineteen thousand jobs lost in the small-business sector under Labor. And now, when the small-business community are calling for budget repair to build confidence and the economic conditions that we need to grow our economy and so they can grow their businesses, you are now standing in the way of that work. This government did not create the debt and deficit disaster, but you are now standing in the way of repairing it. Forty billion dollars worth of savings the coalition has put forward to start that economic recovery that is needed in this country, and not only are you the cause of the problem; the Leader of the Opposition and his Labor Party are opposing that recovery work.

Even independent experts—the Parliamentary Budget Office—made it clear, and I will quote:

It is time to start coming out [of debt and deficit], otherwise the longer you leave it the more exposed you become and the harder it is to wind it back.

The Australian Chamber of Commerce and Industry made the point very clearly:

The budget goes a long way to restoring all important business confidence that will drive investment and job creation, particularly for Australia's two million small businesses …

In this House, I pointed out that Labor wanted to forget that the member for McMahon was once the Treasurer of the country. At least they have now repaired that, and now the member for McMahon actually recognises that he was once Treasurer. We would like to forget, but we cannot forget because—

Opposition members interjecting—

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

You know the ruling on props!

Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

we have got the job to fix the mess. The member for McMahon used to believe in the importance of budget surpluses. He said, and I quote—this was under Labor:

The Government has returned the Budget to surplus three years ahead of schedule and ahead of any other major advanced economy.

It used to matter to the member for McMahon—budget credibility used to be important. I have reminded him that he once was Treasurer; I am happy to remind him that he once had budget and economic credibility. I suggest the member for McMahon step up, save the Leader of the Opposition from himself, stop having this Leader of the Opposition talking out both sides of his pie-hole and get on board our budget repair task.

Sharon Claydon (Newcastle, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer the Prime Minister to Senator Ronaldson's statement that it is clear that CPI was 'not an accurate reflection' of the cost of living. Given that the Minister for Veterans' Affairs knows that CPI is inadequate, why has the Prime Minister broken his election promise and cut pension indexation to CPI?

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

There are changes to the pension, and they will take place after the next election. Our commitment not to change the pension in this term of parliament is absolutely honoured in the government's budget.

The member who asked the question is a relatively new member of parliament and she may have forgotten what her own government did when it was in power between 2007 and 2013. What this government has done is put in place the same indexation for the pension after 2017—

Jenny Macklin (Jagajaga, Australian Labor Party, Shadow Minister for Families and Payments) Share this | Link to this | Hansard source

Not on the pension!

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

The member for Jagajaga will desist!

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

We have put in place the same indexation for the pension after the next election that the shadow minister, now shaking her head, put in place for the family tax benefit. If the indexation system is fair for family tax benefits, it is fair for other social service benefits. If it is fair for people who depend upon the family tax benefit, it is fair for people who depend upon other social security benefits.

Is the member opposite who asked the question seriously saying that, on top of the $40 billion of savings measures that the Labor Party are now opposing—on top of opposing $40 billion worth of savings measures—they are now proposing to spend the extra billions and billions that will be required to restore MTAWE indexation to the family tax benefit? Is that what she is seriously saying? If she is—and, frankly, she must be if she is trying to be consistent—it just proves, again and again and again, that you just cannot trust the Labor Party with public money. They created the debt and deficit disaster which the budget that the Leader of the Opposition loves to hold up is fixing. They created the debt and deficit disaster which the budget that they love to hold up is fixing. They just have not learned. They just do not get it. They do not understand that governments, like families, cannot keep on living beyond their means. We understand this, and that is why the budget that we have brought down is right, it is fair and it will end the intergenerational theft which members opposite inflicted on the Australian public.

Ms Plibersek interjecting—

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

The member for Sydney will desist!

David Gillespie (Lyne, National Party) Share this | Link to this | Hansard source

My question is to the Deputy Prime Minister and Minister for Infrastructure and Regional Development, representing the Treasurer. Would the Deputy Prime Minister outline the importance of responsible budget and economic management? Also, what happens if it is not managed responsibly?

Warren Truss (Wide Bay, National Party, Leader of the Nationals) Share this | Link to this | Hansard source

I thank the member for Lyne for his question, because he knows the importance of Australia having a strong and prosperous economy. It is essential for doing business. It is essential for maintaining our lifestyle. And, of course, this is the right budget for these difficult times. We need to respond to the circumstances—the debt we have inherited, the importance of fulfilling and honouring our commitment before the election to open Australia for business, to declare Australia open and willing to embrace business.

Of course, the things we need to do to do that include abolishing the carbon tax, which has already caused $15.4 billion worth of damage to the Australian economy, for no gain—a $9 billion attack on jobs and a $550 hit to every household in Australia. And the member for Lyne knows how important it is to get rid of the mining tax. One of our most significant industries is expected to carry another burden, and that delivers a wave of uncertainty to investors in this vital sector right across this country.

The Treasurer and the Minister for Trade yesterday in China met the National Development and Reform Commission. They were greeted, in opening remarks by Chairman Xu from the council, with these words: 'The investment environment in Australia has improved a lot since the election of a new government.' One of our major trading partners—our biggest trading partner—has noticed, and it is recognising what a difference this government has made.

So it is time that the opposition joined us in opening Australia for business, instead of constantly trying to shut the door. There are $40 billion worth of savings that they will not allow to pass through the parliament—$5 billion of which were their own savings. They were their idea, and now they will not vote for them in the parliament. And, of course, there are $13 billion worth of savings that are attached to the mining tax. That is the style of government that we would have if Labor were in power. How would they raise this $40 billion? Probably by increasing the carbon tax, because the carbon tax has become so endeared to them. You would need to raise the carbon tax to $75 a tonne if you were going to balance the budget on their kind of economics. So is that Labor's vision for the future? The Leader of the Opposition said he understood the importance of making the budget sustainable, when he spoke to CEDA early this week. Well, get on with it then. Vote for this budget. Vote to enable Australia to progress.