John Alexander (Bennelong, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer please outline the importance of building a strong and prosperous economy? What does this mean for Australians, including those in my electorate of Bennelong?

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

I do thank the member for Bennelong for that question.

Opposition members: Mate!

Well, he is a mate. He is a mate, and he is a great mate of all Australians, because he was a—

Opposition members interjecting—

He is a great mate of all Australians—not only a great tennis player but a great bloke as well, I might add. He also understands what it means to employ people, because, like so many people on this side of the House, he has actually run his own business and employed people. We understand how challenging it can be for an employer to continue to get the money in, to continue to make a profit and, at the same time, to get on with the job of employing more Australians. So we welcome more good news about the performance of the Australian economy at the moment. Quite frankly, it is very pleasing that the Australian Securities Exchange 200 is at its highest levels in six years and property prices are at all-time highs.

But, of course, not everyone is participating in that good news. Not everyone gets the same opportunities, and it is vitally important, as we go down the path of delivering a plan for more economic growth, more jobs and greater opportunity, that we keep our eyes closely focused on the needs of small business and families, particularly to give them the opportunity to participate in prosperity.

But you have to start by understanding your facts about the economy. You have to get your facts right, haven't you, in order to understand how big the challenge is. I was quite interested watching the member for McMahon on Richo + Jones the other night, when he was asked about the facts. There is one thing about the facts: you can be excused for not knowing the facts.

Opposition members interjecting—

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

The member for Rankin and the member for Charlton will desist, as will the member for Griffith.

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

I think you can legitimately be excused for not knowing the facts.

Dr Chalmers interjecting—

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

The member for Rankin is warned.

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

But, when you cover up that you do not know the facts, that is the problem. Last Tuesday night he did not know the facts about the tax-free threshold. Okay, forgivable. But the next day he said that he knew the facts; he just did not want to say it. The following day, on John Laws, he did not know the fact and he might have known the fact, and this morning he said he did not know the fact but he might have known the fact if he knew the fact.

Opposition members interjecting—

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

The member for Chifley will desist. The member for Fraser.

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

I will tell you what the facts are. Labor is in denial about the $667 billion of debt that they left behind. Labor is in denial about the 200 jobs a day that they created compared with 600 now. Labor is in denial about the mess they left Australia. We are not in denial. We deal with the facts, and it is a shame the member for McMahon cannot.